legislation: 113-hr-5600

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
113-hr-5600 113 hr 5600 Franchise Financing Improvement Act of 2014 Commerce 2014-09-18 2014-09-18 Referred to the House Committee on Small Business. House Rep. Graves, Sam [R-MO-6] MO R G000546 0 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. 2023-01-11T13:25:33Z  

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