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Committee approves bipartisan Small Business Child Care Investment Fund (S.273) to expand SBA lending to childcare nonprofits
Summary
The Senate Committee on Small Business and Entrepreneurship voted to favorably report S.273, the Small Business Child Care Investment Fund, a bipartisan bill to allow nonprofit child-care providers access to SBA loan programs.
The Committee on Small Business and Entrepreneurship voted to report S.273, the Small Business Child Care Investment Fund, which would allow nonprofit child-care providers to access SBA loans.
Nut graf: Sponsors described the bill as a bipartisan measure to expand capital access for nonprofit child-care centers, addressing shortages of affordable child care in states including Nevada and Iowa and supporting workforce stability.
What supporters said: Sen. Jacky Rosen (cosponsor) and other supporters argued the legislation "will make a real difference for working families" by expanding SBA access to nonprofit providers and noted it would not create new federal programs or additional taxpayer funds but rather expand existing SBA lending authorities.
Committee action: The chair moved to favorably report S.273; the ayes carried and the committee reported the bill to the full Senate. The transcript records unanimous or near-unanimous bipartisan support at markup and the committee's formal reporting of the bill.
Why it matters: Expanding access to SBA 7(a) and 504-style lending for nonprofit child-care providers could increase the supply of providers and stabilize child-care availability for working families.
Ending: The bill is reported to the Senate; sponsors said they will push for quick floor consideration.
