To establish an Office of Community Financial Institutions within the Small Business Administration that will strengthen the ability of Community Financial Institutions to support the development of small business concerns in underserved communities, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill creates a new office or coordinator position within the Small Business Administration (SBA) specifically dedicated to supporting Community Financial Institutions (CFIs). These institutions include community development financial institutions (CDFIs), minority-owned banks, and credit unions that serve underserved communities. The new office will develop programs, provide training, and coordinate with federal agencies to help these lenders expand capital access for small businesses.
Who Benefits and How
Community Financial Institutions (CDFIs, minority banks, credit unions) benefit from dedicated federal support, technical assistance programs, and advocacy within the SBA. Small business owners in underserved communities benefit from potentially expanded access to capital through strengthened community lenders. The SBA and related federal agencies gain a point of contact for coordinating community lending efforts.
Who Bears the Burden and How
The SBA must allocate staff and resources to establish and operate the new office. Federal taxpayers fund the creation of this new government position and its associated programs. Traditional banks may face increased competition from better-supported community lenders in underserved markets.
Key Provisions
- Creates an Office of Community Financial Institutions (or Coordinator position) within the SBA Office of Capital Access
- Requires the Administrator to appoint a Director/Coordinator with expertise in community financial institutions within 180 days
- Mandates semiannual public meetings with stakeholders and triennial reports to Congress on the office's activities
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
Establishes within the Small Business Administration a dedicated office or coordinator position to support Community Financial Institutions (CDFIs, minority banks, credit unions) in providing capital access to small businesses in underserved communities.
Key Policy Areas
Small Business, Financial Services, Community Development
Primary Purpose
Establishes within the Small Business Administration a dedicated office or coordinator position to support Community Financial Institutions (CDFIs, minority banks, credit unions) in providing capital access to small businesses in underserved communities.
Policy Domains
Section 2 - Office of Community Financial Institutions
Identified Gains
- Community Development Financial Institutions (CDFIs)
- Minority-owned banks and credit unions
- Small business owners in underserved communities
Identified Costs
- Small Business Administration (administrative burden)
- Federal taxpayers (funding)
Section 2 - Coordinator for Community Financial Institutions
Identified Gains
- Community Development Financial Institutions (CDFIs)
- Minority-owned banks and credit unions
- Small business owners in underserved communities
Identified Costs
- Small Business Administration (administrative burden)
- Federal taxpayers (funding)
Sponsors
Legislative Progress
ReportedReported by Mr. Cardin, with an amendment
Mr. Hickenlooper (for himself, Mr. Braun, Mrs. Hyde-Smith, and Mr. …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Community Development Financial Institutions (CDFIs), Minority-owned banks and credit unions
Small business owners in underserved communities
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_director"
- → Director of the Office of Community Financial Institutions
- "the_administrator"
- → Administrator of the Small Business Administration
- "the_associate_administrator"
- → Associate Administrator of the Office of Capital Access
- "the_coordinator"
- → Coordinator for Community Financial Institutions
- "the_administrator"
- → Administrator of the Small Business Administration
- "the_associate_administrator"
- → Associate Administrator of the Office of Capital Access
Note: The bill contains two versions of Section 2: one establishing a full Office with a Director, and one establishing only a Coordinator position. These appear to be alternative formulations from different stages of the legislative process.
Key Definitions
Terms defined in this bill
The Associate Administrator of the Office of Capital Access of the Administration
Has the meaning given the term in paragraph (36) of Section 7 of the Small Business Act
The Director of the Office of Community Financial Institutions (or Coordinator for Community Financial Institutions)
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology