A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for other purposes.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Mar 19, 2020)
This bill establishes certain measures related to small business disaster loans made in response to COVID-19 (i.e., coronavirus disease 2019).
Specifically, the bill authorizes the Small Business Administration to forgive the outstanding principal balance of a small business disaster loan made in response to COVID-19 if the borrower maintains all of its employees at full pay and benefits throughout the duration of the declared national emergency. The bill also raises the maximum amount for a disaster loan made in response to COVID-19, and it waives the requirement that a borrower demonstrate an inability to obtain credit elsewhere.
What just happenedMar 19, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Who’s behind it
- Introduced in SenateMar 19, 2020
- Mar 19, 2020IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Small Business and Entrepreneurship Committee - Mar 19, 2020IntroReferral10000
Introduced in Senate