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HB 1049

An Act amending Title 64 (Public Authorities and Quasi-Public Corporations) of the Pennsylvania Consolidated Statutes, in Commonwealth Financing Authority, further providing for Second Stage Loan Program.

2025-2026 Regular Session Introduced by Tim Brennan and 11 co-sponsors

HB 1049 modifies Pennsylvania's Second Stage Loan Program to adjust small business financing terms, eligibility, or operations through Commonwealth Financing Authority regulations.

Referred to Appropriations
0
WeVote Research Nonpartisan
Bill Summary · HB 1049

Legislative bill overview

HB 1049 amends Pennsylvania's Commonwealth Financing Authority regulations to modify the Second Stage Loan Program, which provides financing to small businesses that have outgrown initial startup funding but aren't yet ready for traditional bank lending. The specific amendments to the program's structure, eligibility requirements, or lending parameters are not detailed in the bill title, requiring review of the full text for substantive changes.

Why is this important

The Second Stage Loan Program is a key economic development tool targeting the critical "growth stage" of small businesses—a period when many companies fail due to capital constraints. Changes to this program could affect small business access to affordable financing, job creation in underserved communities, and the state's economic competitiveness, potentially impacting thousands of Pennsylvania businesses and their employees.

Potential points of contention

  • Fiscal impact unclear — Without seeing the amendments, it's unknown whether changes increase state lending exposure, require new appropriations, or affect existing loan portfolio management
  • Eligibility modifications — Any changes to business size, industry focus, or borrower qualifications could benefit some communities while disadvantaging others
  • Program effectiveness — Questions may arise about whether modifications address documented shortcomings or risks shifting lending criteria in ways that reduce program viability or increase default rates

Compiled from official sources — confirm details with the bill’s official record.

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