Draft Spending Bill Includes SBA Loan Funding Flexibility

Senate Appropriations Committee Chairman Thad Cochran (R-Miss.) yesterday unveiled a draft spending bill keeping the federal government open through Dec. 11. The bill, known as a continuing resolution, would maintain existing spending at an annual rate of $1.017 trillion.

The bill includes several provisions to address problems that may arise between now and December, including one giving the Small Business Administration flexibility to manage funding for its popular 7(a) small business loan guarantee program. The 7(a) program in July maxed out its authorization cap, and Congress speedily raised it to keep 7(a) loans flowing.