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HB 1049PENNSYLVANIASession 2025-2026State Billin committee

Pennsylvania House Bill 1049 Expands Second Stage Loan Program to Community Lenders and Economic Organizations

Original title: 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.

Last action · March 25, 2025: Referred to APPROPRIATIONS, March 25, 2025Sponsors: Melissa Shusterman and 11 others

Bill progressHistory & official text ↓

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Floor Vote

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What This Bill Would Do

Pennsylvania House Bill 1049 broadens eligibility for the Second Stage Loan Program beyond traditional commercial lending institutions to include s and s. The measure also removes the seven-year maximum business age limit for loan borrowers and updates loan guarantee terms.

Why it matters

Local businesses and community lenders gain new avenues for state-backed loan guarantees aimed at supporting life sciences, advanced technology, and manufacturing ventures across Pennsylvania.

Who It Would Affect

Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.

Directly affected

community development financial institutions

Eligible to apply for enrollment in the Second Stage Loan Program and offer state-guaranteed loans.

Directly affected

certified economic development organizations

Eligible to participate as lenders in the loan guarantee program.

Directly affected

life sciences, advanced technology or manufacturing businesses

Can apply for program-backed loans regardless of whether their business age exceeds seven years.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

Who is newly eligible to participate in the Second Stage Loan Program under this bill?

s and s are added as eligible applicants alongside traditional commercial lending institutions.

Is there still an age limit for businesses applying for loans through this program?

Businesses must still have been in existence for at least two years, but the previous restriction capping business age at no more than seven years has been removed.

What else do you want to know?

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Where This Stands

Currently in committee. The next step in the legislative lifecycle is Floor Vote.

Procedural history

1 action

Mar 25, 2025HouseCommittee
Referred to APPROPRIATIONS, March 25, 2025

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Related Legislation

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