A bill to amend the Small Business Act to establish a direct loan program for microbusinesses at the Small Business Administration, and for other purposes.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4534 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4534 To amend the Small Business Act to establish a direct loan program for microbusinesses at the Small Business Administration, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 14, 2026 Ms. Cortez Masto (for herself and Ms. Alsobrooks) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship _______________________________________________________________________ A BILL To amend the Small Business Act to establish a direct loan program for microbusinesses at the Small Business Administration, 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 ``Microbusiness Support Act''. SEC. 2. DIRECT LOAN PROGRAM FOR MICROBUSINESSES. Section 7(a) of the Small Business Act (15 U.S.C. 636(a)) is amended by adding at the end the following: ``(38) Microbusiness loan program.-- ``(A) Definition.-- ``(i) In general.--In this paragraph, the term `microbusiness' means an independently owned and operated for-profit business entity that-- ``(I) employs not more than 10 full-time employees, determined on a full-time equivalent basis; and ``(II) has annual revenue of not more than the lesser of-- ``(aa) $5,000,000; or ``(bb) the size standard in dollars, if any, for the North American Industry Classification System code assigned to the business entity for the business entity to qualify as a small business concern. ``(ii) Full-time.--For purposes of clause (i), the term `full-time' means that an individual-- ``(I) is employed for consideration for not less than 35 hours each week; or ``(II) renders any other standard of service generally accepted by custom o