The Main Street Parity Act aims to update the Small Business Investment Act of 1958 by changing the criteria for loans that support small businesses in acquiring, constructing, converting, or expanding their facilities. The main goal of this legislation is to make it easier for small businesses to access financial support for their growth and development. One of the key changes made by this act involves simplifying the loan criteria. Specifically, it removes certain clauses that previously outlined specific conditions for loans related to plant acquisition and construction.