What is the current status of HR 2987?

HR 2987 is currently: Passed House.

Who sponsored HR 2987?

HR 2987 was sponsored by Robert Bresnahan (R), Rep.

Limits Number of Small Business Lenders

IntroducedApril 24, 2025

Passed House1 year ago

Intro

House

Senate

Pres

In Senate committee

CommerceGovernment lending and loan guaranteesLicensing and registrationsSmall business

Why This Matters

This bill limits the number of for-profit small business lending companies to 16 at any given time.

If you own a small business, this bill limits the number of lenders available to you to 16.

Who this affects

small business owners · lending companies

What changes is this bill making?

1This bill sets a maximum of 16 for-profit small business lending companies allowed to operate at one time.
2The goal is to prevent an oversaturation of lenders in the market, which can lead to unfair practices.
3Only nonprofit organizations can operate without this limit, ensuring they can continue to support small businesses.
4The bill aims to create a more stable lending environment for small businesses seeking loans.

Read the detailed summary

Capping Excessive Awarding of SBLC Entrants Act or the CEASE Act This bill limits the number of for-profit small business lending companies that are authorized make 7(a) loans to not more than 16 at any time.

Read full document

Limits Number of Small Business Lenders

IntroducedApril 24, 2025

Passed House1 year ago

Intro

House

Senate

Pres

In Senate committee

CommerceGovernment lending and loan guaranteesLicensing and registrationsSmall business

Why This Matters

This bill limits the number of for-profit small business lending companies to 16 at any given time.

If you own a small business, this bill limits the number of lenders available to you to 16.

Who this affects

small business owners · lending companies

What changes is this bill making?

1This bill sets a maximum of 16 for-profit small business lending companies allowed to operate at one time.
2The goal is to prevent an oversaturation of lenders in the market, which can lead to unfair practices.
3Only nonprofit organizations can operate without this limit, ensuring they can continue to support small businesses.
4The bill aims to create a more stable lending environment for small businesses seeking loans.

Read the detailed summary

Read full document