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B 26-0464

Small and Local Business Credit Enhancement Amendment Act of 2025

26th Council Period (2025-2026) Introduced by Charles Allen

Amends DC's Small and Local Business Credit Enhancement program to refine eligibility, funding, and lender participation, boosting access to affordable credit for local businesses.

Notice of Intent to Act on B26-0464 Published in the District of Columbia Register
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Bill Summary · B 26-0464

Summary of Bill B 26-0464: Small and Local Business Credit Enhancement Amendment Act of 2025

Overview

  • Bill Number: B 26-0464
  • Title: Small and Local Business Credit Enhancement Amendment Act of 2025
  • Status: Notice of Intent to Act on B26-0464 published in the District of Columbia Register
  • Introduced: November 3, 2025
  • Primary Sponsor: Councilmember Charles Allen
  • Classification: Bill

Purpose and Intent

  • The bill is titled to amend the district’s Small and Local Business Credit Enhancement program, indicating an intent to strengthen or modify mechanisms that improve access to credit for small and local businesses in Washington, DC.
  • Given the “Amendment” designation, the act would adjust existing statutory provisions governing the credit enhancement program, potentially refining how credit is extended, guaranteed, or secured, and/or how program funding and oversight are structured.

Key Provisions ( Highlights Based on Title; full text needed for specifics )

Note: The exact statutory language is not provided in the brief. The following outlines common elements typically addressed by amendments to credit enhancement programs. The actual bill may include some or all of these items, or introduce additional provisions.

  • Eligibility and Beneficiaries
    • Clarification or expansion of which small/local businesses qualify for program assistance (e.g., size thresholds, geographic focus, minority/women-owned businesses).
  • Credit Enhancement Mechanisms
    • Modifications to guarantees, collateral requirements, interest-rate support, or credit insurance designed to make loans more accessible or affordable.
  • Funding and Financing
    • Adjustments to funding sources, cap amounts, appropriation processes, or matching funds for the credit enhancement pool.
  • Program Administration
    • Changes to governance, oversight, reporting requirements, or performance metrics for the administering agency or authority.
  • Lender Participation
    • Provisions affecting how local lenders can participate, eligibility criteria for lenders, or obligations for lenders using the program.
  • Reporting and Accountability
    • Requirements for regular reporting to the Council or the public, including impact metrics on loan approvals, repayment performance, and economic outcomes for local communities.

Important: The above provisions are generic possibilities based on the bill’s title. The actual text will specify the precise amendments, definitions, terms, thresholds, and timelines.

Affected Parties

  • Small and Local Businesses seeking improved access to credit and more favorable loan terms.
  • Local Lenders and Financial Institutions participating in or benefiting from credit enhancement programs.
  • DC Government/Agency Administrators responsible for implementing and overseeing the program.
  • Policy Stakeholders including business associations, minority- and women-owned business advocates, and local economic development bodies.

Procedural and Timeline Aspects

  • Introduction: November 3, 2025
  • Committee Referral: Referred to the Committee on Business and Economic Development on November 4, 2025
  • Notice of Intent to Act: Published November 7, 2025 in the District of Columbia Register
  • Current Stage: Early-stage (notice of intent to act); no final action or enactment yet
  • Next Steps: The bill would typically proceed to committee hearings, potential amendments, and a full Council vote, followed by any required mayoral approval or veto considerations, as applicable to DC Council procedures.

Fiscal and Administrative Considerations

  • Any amendments could affect program funding levels, administrative costs, and reporting obligations.
  • The act may specify deadlines for implementing changes and for annual or periodic performance reviews.

Summary for Readers

B 26-0464 seeks to refine DC’s Small and Local Business Credit Enhancement program through amendments anticipated to affect eligibility, funding, administration, and lender participation. The bill is in its early legislative stage, with a Committee referral and a published NOI indicating the Council’s intent to act. The full text will clarify the exact changes, financial implications, and expected impacts on local small businesses and credit access.

Next Steps for Interested Parties

  • Monitor the District of Columbia Register for the full text and any fiscal impact statement.
  • Attend or review Committee on Business and Economic Development hearings for details on proposed changes.
  • Track amendments and Council votes to assess potential enactment and real-world effects on small/local business lending.

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

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