This bill matters because it shifts the way small businesses can access crucial funding. If it becomes law, small businesses will no longer have the option of getting a direct loan from the government through the SBA's primary 7(a) program. Instead, they will solely rely on private banks and other lenders to provide these loans, even though the SBA would still guarantee a portion of them.

Voters should care because this change could impact the speed, availability, or terms of loans for some small businesses, especially those that might find it harder to secure financing from traditional private lenders. If the bill doesn't pass, the SBA would retain the ability to offer direct loans under the 7(a) program, maintaining a potentially broader safety net or alternative for businesses seeking capital.