Downing Bill to Expand Access to Capital for Rural Small Businesses Clears Key Committee Vote

Rep. Downing in Committee
May 20, 2025
Press Release

Today, Congressman Troy Downing’s (MT-02) Expanding Access to Capital for Rural Job Creators Act was reported favorably out of the House Financial Services Committee, taking a critical step toward becoming law.

“Rural small businesses are the backbone of many of the communities that I represent, but these important job creators often face outsized difficulty accessing the funding they need to grow.” said Congressman Downing. “H.R. 1190 will ensure that the SEC’s Office of the Advocate for Small Business Capital Formation pays rural main street the attention it has long deserved but not received. I appreciate the advocacy of Rep. Bynum and the bipartisan support of my colleagues as we work together to get this bill across the finish line.”

“Rural small businesses are an essential part of our communities and our economy, but they face too many obstacles when they’re trying to get started,” said Rep. Bynum. “I'm proud that this bill, which makes it easier for these businesses to get on their feet by expanding their access to capital, is one step closer to becoming law. I’ll partner with anyone to get it done for Oregon’s Fifth, and I look forward to working with my colleagues on both sides of the aisle to deliver results for our small businesses.”

Watch Congressman Downing’s remarks in support of the Expanding Access to Capital for Rural Job Creators Act at today’s Financial Services Committee markup here.

Cosponsors of the Expanding Access to Capital for Rural Job Creators Act include: Rep. Janelle Bynum (OR-05), Rep. Zach Nunn (IA-03), Rep. Chris Pappas (NH-01), and Rep. Pete Sessions (TX-17).

Background:

  • The SEC’s Office of the Advocate for Small Business Capital Formation is required to identify problems that small businesses face when securing access to capital and submit an annual report to Congress.

  • Currently, the Office’s list of applicable entities are minority-owned, women-owned, and disaster-stricken small businesses.

  • This legislation would require the SEC’s Office of the Advocate for Small Business Capital Formation to add rural small businesses to its list of applicable entities.

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