Congressional Advocacy
119th Congress
House and Senate Hearings of Interest
June 4, 2025 | House Small Business Committee Hearing: Budgeting for Growth: Testimony from SBA Administrator Kelly Loeffler
May 21, 2025 | House Small Business Committee Hearing: Review of the President's FY2026 Budget Request for the SBA with Administrator Kelly Loeffler
May 21, 2025 | Senate Appropriations SubCommittee, Financial Services and General Government Hearing: A Review of the President's FY2026 Budget Request for the SBA with Administrator Kelly Loeffler
February 26, 2025 | Senate Small Business Committee Hearing: Hearing from Lenders-Managing Risk for the Long Term in the 7(a) Loan Program.
TESTIMONY
February 12, 2025 | House Small Business Committee Hearing: Driving Economic Growth: SBA Lending Programs and the Vital Role of Community Banks
TESTIMONY
118th Congress
In April 2023, the Small Business Administration implemented its final rule on the Small Business Lending Company (SBLC) Moratorium Rescission and Removal of the Requirement for a Loan Authorization proposal. The changes, which took effect on May 12, 2023, closely resembled the previously proposed rule from November 2022.
House and Senate Small Business Committees were quick to take action, holding multiple hearings and discussions to carefully evaluate the impact of the proposed rule's rescission on the SBLC Moratorium. Practitioners, including Hilda Kennedy from AmPac and MLWG member, were invited to testify before Congress and provide valuable insights into the potential effects on SBA loan programs, specifically the Community Advantage (CA) Loan Program.
Moreover, Senate Small Business Committee Chairman Ben Cardin introduced the Community Advantage Loan Program Act of 2023. This legislative initiative aims to codify the Community Advantage (CA) Loan Program by making amendments to Section 7(a) of the Small Business Act. It's the result of dedicated negotiations between Chairman Ben Cardin and Ranking member Joni Ernst. This bill has already achieved a significant milestone, receiving unanimous approval during a committee markup on July 18th, 2023.
House and Senate Hearings of Interest
May 6, 2024 | Senate Small Business and Entrepreneurship Committee Hearing: Promoting Opportunity: The Need for Targeted Federal Business Programs to Address Ongoing Racial Discrimination
The MLWG submitted a statement to emphasize the critical impact CA lenders (now CA SBLCs) and their efforts at intentionally increasing SBA-backed lending to under-resourced businesses and underserved communities. Read the full statement here.
July 18, 2023 | Senate Small Business and Entrepreneurship Committee Markup
The MLWG submitted a letter of support to for the Community Advantage Loan Program Act of 2023 to Chairman Cardin and Ranking Member Ernst, Read the full letter here.
May 17, 2023 | House Small Business Committee Hearing: Taking on More Risk: Examining the SBA's Changes to the 7(a) Lending Program Part II
Committee leadership wrote to SBA Administrator Isabela Guzman requesting the agency pause proposed changes to 7a lending programs until a full-time Associate Administrator overseeing the agency's lending programs is installed. Read the full letter here.
May 10, 2023 | House Small Business Committee Hearing: Examining the SBA's Changes to the 7(a) Lending Program Part 1
April 26, 2023 | Senate Small Business Committee Hearing: Oversight of SBA’s Implementation of Final Rules to Expand Access to Capital
117th Congress
Senator Ben Cardin (D-MD), and Representative Judy Chu (D-CA), introduced bicameral legislation entitled The Community Advantage Loan Program Permanency Act of 2022 (H.R. 9311/S. 5102), The MLWG commends Senator Cardin and Representative Chu for exemplifying true leadership and commitment to small businesses. Read the MLWG's full statement of support here and the bill sponsors' joint press release here.
Provisions included in the Build Back Better Act legislation sought to codify the U.S. SBA's Community Advantage pilot program into a full authorized program as part of the Small Business Act. The Build Back Better Act legislation was passed by the House but not taken up by the Senate. Ultimately continued negotiations amongst Senate leadership resulted in the proposed $739 billion Inflation Reduction Act of 2022.
The U.S. Small Business Administration released a Notice of Proposed Rulemaking (NPRM) titled, 'Small Business Lending Company (SBLC) Moratorium Rescission and Removal of the Requirement for a Loan Authorization,' to lift the 40-year moratorium on Small Business Lending Company (SBLC) licenses. MLWG member, Robert Villareal with Momentus Capital / CDC Small Business Finance, testified on behalf the MLWG during a Senate Small Business hearing, titled, 'Improving Access to Capital in Underserved Communities: The Community Advantage Program, Microloans, and other SBA Initiatives,' to discuss the potential impact of the SBA's proposed rule on the Community Advantage program.
House and Senate Hearings of Interest
December 14, 2022 | Senate Small Business Committee Hearing: Improving Access to Capital in Underserved Communities
August 2, 2022 | Senate Small Business Committee Hearing: Oversight of SBA’s COVID Economic Injury Disaster Loan Program
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July 13, 2022 | House Small Business Committee Hearing: Fintech and Transparency in Small Business Lending
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May 18, 2022 | House Small Business Committee Hearing: SBA Management Review: Office of Capital Access
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April 27, 2022 | Senate Small Business Committee Hearing: Oversight of the U.S. Small Business Administration
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March 29, 2022 | Senate Small Business Committee Hearing: Catalyzing Economic Growth through SBA Community-Based Lending
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March 16, 2022 | Senate Small Business Committee Hearing: An Empirical Review of the Paycheck Protection Program
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February 16, 2022 | House Financial Services Committee Hearing: An Unprecedented Investment for Historic Results: How Federal Support for MDIs and CDFIs Have Launched a New Era for Disadvantaged Communities
MLWG Testimony:
February 1, 2022 | Senate Small Business Committee Hearing: Review of SBA Entrepreneurial Development Programs and Initiatives
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116th Congress
During the 116th Congress, Senator Cardin (D-MD), as well as Representative Chu (D-CA-27) and Representative Spano (R-FL-15) introduced legislation (S.2361, H.R.7903) to authorize the Community Advantage (CA) program. Achieving CA program authorization is an essential step towards ensuring that the most underserved small businesses receive the capital they need to grow and thrive. The House and Senate bills sought to expand the definition of underserved target markets to include businesses owned by women and people of color.
On July 31st 2020, the MLWG submitted an endorsement letter for H.R.7903 to Rep. Chu and Rep. Spano. The MLWG also created a section-by-section summary of H.R.7903.
House and Senate Hearings of Interest
March 10, 2021 | House Small Business Committee Hearing: The Next Steps for the Paycheck Protection Program
September 16, 2020 | House Small Business Committee Markup
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December 3, 2020 | House Floor Vote on H.R. 7903
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