US Congress House Bill 5600 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on September 18 2014 - 25% progression, died in committee
Action: 2014-09-18 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]

Franchise Financing Improvement Act of 2014 - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA) to make financial assistance available to franchisees under the Act or the Small Business Investment Act of 1958 if the franchisee is not affiliated with the franchisor. Declares that a franchisee shall not be considered affiliated with the franchisor if: the franchisor has filed a disclosure document pursuant to specified federal regulations; and the franchisee, upon default on a loan (whether guaranteed by the SBA or not), has no ability to obtain financial assistance from the franchisor to repay the loan. Declares further that a franchisor's authority to repurchase the franchise for noncompliance with its terms and conditions, or to have the right of first refusal to purchase it from the franchisee, shall not be considered financial assistance to repay loans issued to the franchisee.

Franchise Financing Improvement Act of 2014

Rep. Sam Graves [R-MO]

Date	Chamber	Action
2014-09-18	House	Referred to the House Committee on Small Business.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/house-bill/5600/all-info
Text	https://www.congress.gov/113/bills/hr5600/BILLS-113hr5600ih.pdf