The bill amends Section 42-64.25-6 of the General Laws concerning the "Small Business Assistance Program" by introducing a new section titled "Micro-loan allocation." It mandates that between ten percent (10%) and twenty-five percent (25%) of program funds be allocated specifically for micro loans, which are defined as loans with principal amounts ranging from two thousand dollars ($2,000) to twenty-five thousand dollars ($25,000). These micro loans will be administered by lending organizations selected by the commerce corporation based on their experience in providing technical and financial assistance to microenterprises.

Additionally, the bill appropriates two million dollars ($2,000,000) from the general revenue fund to support this micro-loan program for the fiscal year 25-26. The act is set to take effect immediately upon passage.