A bill to authorize the creation of a "Lending.gov" as a shared services platform to provide a single source of access to loans provided by Federal agencies, and modern technology to support effective management of Federal credit programs, in order to reduce costs, prevent fraud, increase the speed of origination, improve transparency, improve access and customer experience, and for other purposes.

# Summary of S. 3980 - Lending.gov Platform Bill This bill would create a centralized online platform called "Lending.gov" that consolidates federal loan programs in one place. Currently, various federal agencies (like the Department of Education, Small Business Administration, and others) manage their own loan programs separately. This bill aims to bring them together on a single website, similar to how USAspending.gov provides budget information. The platform would use modern technology to streamline the loan application process, making it faster and easier for borrowers to find and apply for federal loans. The bill is designed to benefit anyone seeking federal loans—including students, small business owners, farmers, and homeowners—by reducing the time it takes to get approved and making it clearer what loan options are available.

Beyond helping borrowers, the bill emphasizes cost savings and fraud prevention for the government itself. By consolidating these programs under one system rather than maintaining separate platforms, federal agencies could reduce administrative expenses and better detect fraudulent applications. **Current Status:** The bill (S. 3980) is currently in committee and has not yet been voted on by the full Senate. It was introduced by Senator Marsha Blackburn (R-TN) in the 119th Congress.