The U.S. House of Representatives passed the Main Street Parity Act (H.R. 5763) on Jan. 20, advancing bipartisan legislation to expand access to capital for America’s small businesses. This bill, introduced by Congressman Roger Williams (TX-25), ensures fair and equal treatment for all industries participating in the Small Business Administration’s (SBA) 504 loan program.
“Main Street businesses are the backbone of our economy,” Williams said. "The Main Street Parity Act levels the playing field by eliminating outdated financing requirements and expanding opportunity for small business owners across the country. I’m proud to see this bipartisan bill pass the House and move one step closer to becoming law.”
The legislation was previously reported favorably by the House Small Business Committee with unanimous bipartisan support.
The bill (H.R. 5763) modernizes the SBA 504 loan program by removing a provision that requires small businesses operating on limited or single-purpose properties to contribute an additional five percent in equity compared to other borrowers.
By standardizing equity requirements across industries, the bill lowers barriers to entry for entrepreneurs, encourages investment in local infrastructure, and strengthens Main Street businesses nationwide.
Williams is the Chairman of the House Small Business Committee.
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