H.R. 2987 · 119th Congress
Caps the number of for-profit small business lending companies making SBA 7(a) loans
Official title: CEASE Act of 20251
§1What it does
Why this matters: A plain-English description of the bill as it was voted on, written by us from the official summary and text.
Drafted by AI from the public sources cited. Each sentence links to its source.
This bill would require the Small Business Administration to ensure that no more than 16 for-profit small business lending companies, a kind of non-bank lender, are authorized at any one time to make loans under the agency's 7(a) small business loan program.2,
§2Status
| Status | Latest action, June 9, 2025: Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship.1 |
|---|---|
| Introduced | April 24, 2025 |
| Sponsor | Rep. Bresnahan, Robert [R-PA-8] |
| Cosponsors | 0 cosponsors |
| Official record | H.R. 2987 on Congress.gov |
§3How Congress voted
Why this matters: The official count.
House, June 5, 2025
On Passage: Passed — 214 yes, 198 no, 20 not voting.5