US HB7109

Nonprofit child care providers that are 501(c)(3) tax-exempt, state-licensed, and meet SBA size standards become eligible for SBA 7(a) loans and 504 loan programs by being deemed "small business concerns"

Loans must be made through banks, certified development companies, or other financial institutions on a deferred participation basis; direct lending by the SBA Administrator is prohibited

Loans or financings exceeding $500,000 require the nonprofit child care provider to obtain a guarantee of timely payment from another person or entity

Participating providers must certify non-discrimination in business practices based on race, color, religion, sex, sexual orientation, marital status, age, disability, or national origin, and all employees and regular volunteers must pass criminal background checks

SBA Administrator must submit annual reports to Congress detailing the number and amounts of loans made to covered nonprofit child care providers under both the 7(a) and 504 programs, beginning one year after enactment