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Congressional Support

117th Congress

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.

House and Senate Hearings of Interest

July 13, 2022: Rep Chu and Sean Salas of Camino Financial discuss the Community Advantage Pilot Program during the House Small Business Committee on Fintech and Transparency in Small Business Lending 

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: ​Rep. Chu and Hilda Kennedy discuss how mission lenders and the CA program are instrumental in reaching underserved communities during the House Small Business Committee Hearing on Next Steps for the Paycheck Protection Program.