H.R. 2533 (Microloan Modernization Act)

H.R. 2533, known as the Microloan Modernization Act, aims to improve the U.S. Small Business Administration's microloan program, which provides small loans to entrepreneurs and startups. This legislation seeks to increase the loan limit from $50,000 to $100,000, expand eligibility for borrowers, and streamline the administrative process. By doing so, it intends to enhance access to capital for small businesses, particularly those in underserved communities, fostering economic growth and entrepreneurship. The act supports the financial needs of small business owners, enabling them to better succeed and contribute to the economy.