Section 1. Short title
This Act may be cited as the Loans In Our Neighborhoods Act of 2024 or the LIONs Act of 2024.
Section 2. Maximum loan amount for a 7 (a) loan
Section 7(a)(3)(A) of the Small Business Act (15 U.S.C. 636(a)(3)(A)) is amended by striking $3,750,000 (or if the gross loan amount would exceed $5,000,000) and inserting $7,500,000 (or if the gross loan amount would exceed $10,000,000).