S. 1120 · 117th Congress
Small Business Administration Franchise Loan Transparency Act of 2021
- Stage
- In committee
- Sponsor
- Catherine Cortez Masto
- Introduced
- 2021-04-14
- Latest action
- 2022-03-16 · 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.