Bill would open SBA business loans to nonprofit child care providers
Placed on the calendarS. 273Latest action
Sponsor: Jacky Rosen · Senator · NV
AIDecoded by AI · checked against the recordRead the official text
Official title: Small Business Child Care Investment Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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S 273 would let nonprofit child care providers apply for SBA 7(a) and 504 small business loans.
40-second read · 4 questions answered below
What does this do?
S 273 would allow nonprofit child care providers to apply for SBA 7(a) and 504 loan programs, which are normally reserved for for-profit small businesses. To qualify, a provider must be state-licensed, hold tax-exempt status, mainly serve children from birth to school age, follow criminal background check rules, and certify it won't discriminate. Loans would come through private banks or lenders, with the SBA guaranteeing repayment rather than lending directly.
Who does it affect?
Nonprofit child care centers and preschools would gain new financing access; banks and lenders in SBA programs, and families using child care, could also be affected.
Why does it matter?
Expanded loan access could help some nonprofit providers renovate, buy equipment, or expand capacity, though eligibility rules and reporting requirements would apply.
AI-drafted summary. Check it against the official text before you act on it.
Based on the “Reported to Senate” text of Feb 10, 2025.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedJan 28, 2025
- Senate committee
- Senate voteYou are here · Feb 10, 2025
- House
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Placed on Senate Legislative Calendar under General Orders. Calendar No. 9.