The Small Business Cybersecurity Enhancement Act would guarantee loans to small businesses with 100 or fewer employees that will use the capital to enhance cybersecurity and protect their systems from online threats.

 

“We need to take action now to ensure we’re protecting our nation's infrastructure and businesses," said Fitzpatrick in a statement. “This bipartisan legislation is a crucial step toward ensuring small businesses in our communities have the tools and training to protect themselves, and their customers, from cyber attacks.”

 

In their 2015 Year-End Economic Report, the National Small Business Association noted that “42 percent of small businesses report they have been the victim of a cyber attack.” The average loss to a business whose banking account was compromised by a cyber attack was more than $32,000.