The main purpose of this legislation, known as the Microbusiness Support Act, is to create a direct loan program specifically for microbusinesses through the Small Business Administration (SBA). This aims to provide financial support to small, independently owned businesses that may struggle to access traditional funding sources. Key provisions of the act include defining what qualifies as a microbusiness. A microbusiness is defined as a for-profit entity that has no more than 10 full-time employees and earns annual revenue of up to $5 million or meets the size standards set for its industry.