Cyber, lending bills in Senate

      New legislation in the Senate would improve cybersecurity resources for small businesses, and expand federal loans to needy communities.

      Sens. Gary Peters, D-MI, and Marco Rubio, R-FL, submitted the Small Business Cybersecurity Assistance Act to boost cyber assistance for small firms with help from the Small Business Administration and the Homeland Security Dept.

      The bill would authorize SBA’s Small Business Development Centers to provide cyber training and technical resources; make the SBA a provider of cybersecurity information; and require DHS to develop online cybersecurity materials for small businesses.

      Sen. Ben Cardin, D-MD, introduced the Closing the Credit Gap Act to make the SBA’s 7(a) Community Advantage Pilot Program permanent. At least 60% of loans would go to people in underserved markets, and loans also could go to business owners who are socially and economically disadvantaged, regardless of business location.

      Cardin also introduced the Unlocking Opportunities in Emerging Markets Act, which would create an Office of Emerging Markets within SBA’s Office of Capital Access to ensure that access efforts reach emerging markets.

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Cyber, lending bills in Senate

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