Loans in our Neighborhoods Act

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [H.R. 7242 Introduced in House (IH)] <DOC> 118th CONGRESS 2d Session H. R. 7242 To amend the Small Business Act to increase the maximum gross loan amount for a loan made under section 7(a) of such Act. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES February 5, 2024 Mr. Thanedar introduced the following bill; which was referred to the Committee on Small Business _______________________________________________________________________ A BILL To amend the Small Business Act to increase the maximum gross loan amount for a loan made under section 7(a) of such Act. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Loans in our Neighborhoods Act''. SEC. 2. MAXIMUM GROSS LOAN AMOUNT FOR A 7(A) LOAN. Section 7(a)(3)(A) of the Small Business Act (15 U.S.C. 636(a)(3)(A)) is amended by striking ``$5,000,000'' and inserting ``$10,000,000''. <all>…