S. 1120IntroducedCOMMERCE
Small Business Administration Franchise Loan Transparency Act of 2021
Business records · Government lending and loan guarantees · Retail and wholesale trades
Key facts
Introduced: Apr 14, 2021
Chamber: Senate
Cosponsors: 4
Congress: 117th
Latest action · Mar 16, 2022
Committee on Small Business and Entrepreneurship. Hearings held.
Summary
Small Business Administration Franchise Loan Transparency Act of 2021
This bill requires a franchisor seeking guaranteed lending from the Small Business Administration to disclose historical revenue and store-closure information to any prospective franchisee before the loan will be approved.
Summary by Congressional Research Service.
Timeline
- Mar 16, 2022Committee on Small Business and Entrepreneurship. Hearings held.
- Mar 16, 2022Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 117-242.
- Apr 14, 2021Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Apr 14, 2021Introduced in Senate
Cosponsors
- Sen. Feinstein, Dianne [D-CA] D-CA
- Sen. Baldwin, Tammy [D-WI] D-WI
- Sen. Murphy, Christopher [D-CT] D-CT
- Sen. Warren, Elizabeth [D-MA] D-MA
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View official record on Congress.gov →
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