S 3417

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IN THE SENATE OF THE UNITED STATES

December 10, 2025

Mr. Justice introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship

A BILL

To direct the Comptroller General of the United States to conduct a study on the disbursement process for certain small business loans, and for other purposes.

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 “Main Street Lending Improvement Act of 2025”.

SEC. 2. DISBURSEMENT PROCESS FOR CERTAIN SMALL BUSINESS LOANS.

(a) Definitions.—In this section:

(1) Appalachian region.—The term “Appalachian region” has the meaning given such term by section 14102(a) of title 40, United States Code.

(2) Covered region.—The term “covered region” means a region of the Administration that includes any part of the Appalachian region.

(3) Region of the administration.—The term “region of the Administration” has the meaning given such term in section 3 of the Small Business Act (15 U.S.C. 632).

(4) Small business concern.—The term “small business concern” has the meaning given such term under section 3 of the Small Business Act (15 U.S.C. 632(a)).

(5) Small business loan.—The term “small business loan” means a loan made under title V of the Small Business Investment Act of 1958 (15 U.S.C. 695 et seq.), section 7(a) of the Small Business Act (15 U.S.C. 636(a)), or section 7(m) of the Small Business Act (15 U.S.C. 636(m)), except that such term excludes any loan made under a program established in response to the COVID-19 pandemic.

(b) Study.—The Comptroller General of the United States shall conduct a study on the disbursement process for small business loans.

(c) Contents.—

(1) In general.—In conducting the study under subsection

(b), the Comptroller General shall determine for each year during the period beginning on January 1, 2021, and ending on December 31, 2024, for each covered region, the measures described in paragraph (2).

(2) Measures described.—The measures described in this paragraph with respect to a covered region are, for each of the portion of such covered region that is part of the Appalachian region and the portion of such covered region that is not part of the Appalachian region—

(A) the average length of time—

(i) between the submission of an application for a small business loan by a small business concern for which the principal place of business is located in such portion and when funds are disbursed with respect to such application; and

(ii) to complete each step of the application and disbursement process for small business loans for small business concerns for which the principal place of business is located in such portion;

(B) the number that is equal to the product of—

(i) the number of small business loans disbursed to small business concerns for which the principal place of business is located in such portion divided by the total number of small business concerns for which the principal place of business is located in such portion; and

(ii) 1000;

(C) the number that is equal to the product of—

(i) the number of small business loans approved for small business concerns for which the principal place of business is located in such portion divided by the total number of small business concerns for which the principal place of business is located in such portion; and

(ii) 1000;

(D) the average and median dollar amount of small business loans disbursed to small business concerns for which the principal place of business is located in such portion; and

(E) the number that is equal to the product of—

(i) the aggregate dollar amount of all small business loans disbursed to small business concerns for which the principal place of business is located in such portion divided by the total number of small business concerns for which the principal place of business is located in such portion; and

(ii) 1000.

(d) Briefing and Report.—

(1) Interim briefing.—Not later than 1 year after the date of enactment of this Act, the Comptroller General shall provide to Congress a briefing on the progress of the study required by subsection (b).

(2) Report.—

(A) In general.—Not later than 2 years after the date of enactment of this Act, the Comptroller General shall submit to Congress a report containing the results of the study required by subsection (b).

(B) Recommendations.—The report required by subparagraph (A) shall include recommendations of the Comptroller General for changes to the small business loan disbursement process to—

(i) increase accessibility of small business loans;

(ii) decrease the average length of time from when an application for a small business loan is submitted to when funds are disbursed with respect to such application;

(iii) increase the availability of information to an applicant for a small business loan regarding the status of the application of such applicant, including if any additional information is needed from the applicant to continue processing the application of such applicant and an estimate of the length of time until the funds with respect to such application will be disbursed; and

(iv) identify mechanisms and processes internal to the agencies involved in making small business loans that can be changed to reduce inefficiencies of the Government with respect to the processing of applications for small business loans. <all>