North Carolina legislation · 2025-2026 Session
North Carolina S1056: NC Small Business Capital & Jobs Act.
Status: Introduced, May 5, 2026
What the bill says
An act to enact the nc small business capital and jobs act.
From the introduced text:
A BILL TO BE ENTITLED AN ACT TO ENACT THE NC SMALL BUSINESS CAPITAL AND JOBS ACT. The General Assembly of North Carolina enacts: SECTION 1. Article 10 of Chapter 143B of the General Statutes is amended by adding a new Part to read: "Part 20A. Small Business Capital Access. "§ 143B-271.113. Small Business Capital Access Act. (a) Title. - This Part shall be known and may be cited as the "North Carolina Small Business Capital Access Act." (b) Findings. - The General Assembly finds as follows: (1) Small businesses and businesses in underserved communities are vital to North Carolina's economy, creating jobs and driving innovation throughout the State. (2) Despite their importance, these businesses face persistent barriers to accessing capital necessary for startup, operation, and growth. (3) Existing capital access programs have gaps that leave many qualified businesses unable to secure necessary financing. (4) Targeted interventions have proven successful in other states and countries in addressing these capital access disparities. (5) North Carolina has an opportunity to strengthen its economy by implementing a coordinated strategy to expand capital access for small businesses and businesses in underserved communities. (c) Purpose. - The purpose of this Act is to establish a comprehensive framework to expand access to capital for small businesses and businesses in underserved communities, disadvantaged areas, and census tracts …
Sponsors
- Garrett, Michael (D, 27) · primary sponsor
- Batch, Sydney (D, 17) · primary sponsor
- Salvador, DeAndrea (D, 39) · primary sponsor
- Applewhite, Val (D, 19)
- Mohammed, Mujtaba A. (D, 38)
- Smith, Kandie D. (D, 5)
- Theodros, Caleb (D, 41)
- Waddell, Joyce (D, 40)
Latest actions
- : Re-ref Com On Appropriations/Base Budget
- : Withdrawn From Com
- : Ref To Com On Rules and Operations of the Senate
- : Passed 1st Reading
- : Filed
Subjects: BUDGETING, COUNTIES, COMMERCE, FUNDS & ACCOUNTS, COUNTIES; Jackson, BOARDS, FINANCIAL SERVICES, ECONOMIC DEVELOPMENT
Common questions
- What is S1056?
- S1056 is a bill in the North Carolina Legislature (2025-2026 Session): NC Small Business Capital & Jobs Act.
- What does S1056 do?
- In its own words: An act to enact the nc small business capital and jobs act.
- What is the status of S1056?
- Introduced as of May 5, 2026. Latest action: Re-ref Com On Appropriations/Base Budget (May 5, 2026).
- Who sponsored S1056?
- Garrett, Michael (D, 27), with 7 co-sponsors.
- Where is the official record for S1056?
- On the North Carolina Legislature website: https://www.ncleg.gov/BillLookUp/2025/S1056
Source: official North Carolina record. Tracked by Delilah, AI for legislation across all 50 states and Congress.