H.R. 2451: Strengthening Entrepreneurs' Economic Development Act of 2013

113th Congress · introduced 2013-06-20 · Commerce · Latest: Referred to the House Committee on Small Business.

federal

Follow this bill, step by step

Where it came from: introduced 2013-06-20 · official record
Who proposed it: Rep. Velazquez, Nydia M. [D-NY-7] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Small Business. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Strengthening Entrepreneurs' Economic Development Act of 2013

Plain summary

Strengthening Entrepreneurs' Economic Development Act of 2013 - Directs the Administrator of the Small Business Administration (SBA) to establish and carry out a direct lending program for small businesses (businesses with fewer than 20 employees). Sets forth provisions governing the amount and repayment period of, and interest rate on, such a loan. Authorizes the Administrator to collect a fee from the borrower. Directs the Administrator to: (1) issue guidance regarding prudent underwriting standards for such loans; (2) establish a process of making each loan application available to lenders for the purpose of originating, underwriting, closing, and servicing the loan; (3) first give priority to lenders within 50 miles of the principal office of the applicant, then make such applications available to lenders in the Preferred Lenders Program, and then consider such a loan for origination, underwriting, closing, and servicing by the Administrator; (4) offer to sell loans made under the program through the semi-annual public solicitation of offers to purchase; and (5) maintain and service loans that are not sold through asset sales. Amends the Small Business Act to require the SBA, for each small business loan in excess of $2 million that is approved under such Act, to collect a fee not to exceed a certain percentage of the outstanding balance of the deferred participation share of the loan as necessary to reduce to zero the cost to the SBA of making such loan.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

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What does this mean? (plain words)

Official text

Strengthening Entrepreneurs' Economic Development Act of 2013

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Velazquez, Nydia M. [D-NY-7] · 4 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Judy Chu (D-CA), Yvette D. Clarke (D-NY)

Sponsor's campaign money: Rep. Velazquez, Nydia M. [D-NY-7] reported raising $180,257 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-113hr2451.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/113/hr>

Record fed-us-cong113-hr2451 · catalog fed-us-congress-bills-cong113 · updated 2026-11-15 by psicol fed-bills-cong113