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Bill116th CongressFiled May 20, 2020Commerce
S. 3782

Small Business Lending Continuity Act of 2020

Bill journey · stage 1 of 5

Just introduced

Filed
Comm.
Floor
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Law

What it doesSummary introduced in senate (May 20, 2020)

Small Business Lending Continuity Act of 2020

This bill revises the authorization for certain Small Business Administration (SBA) loan products currently linked to the Paycheck Protection Program that was implemented in response to COVID-19 (i.e., coronavirus disease 2019).

Under current law, the authorization for the Paycheck Protection Program and the SBA's standard small business loan products (the 7(a) loan program) are combined into one joint authorization for the duration of the Paycheck Protection Program. The bill returns the 7(a) loan program to the purview of its stand-alone authorization to prevent it from being terminated upon the two programs' attainment of the joint authorization cap.

What just happenedJun 3, 2020

Committee on Small Business and Entrepreneurship. Hearings held.

Who’s behind it

Sen. Duckworth, Tammy [D-IL](D-IL)Sponsor
6 cosponsors3 D3 R
Read on Congress.gov
6cosponsors1committees7actions7subjects
  1. Jun 3, 2020Committee

    Committee on Small Business and Entrepreneurship. Hearings held.

    Small Business and Entrepreneurship Committee
  2. May 22, 2020FloorH15000

    Held at the desk.

  3. May 22, 2020FloorH14000

    Received in the House.

  4. May 22, 2020Floor

    Message on Senate action sent to the House.

  5. May 20, 2020Floor

    Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S2560; text: CR S2560)

  6. May 20, 2020Floor17000

    Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S2560; text: CR S2560)

  7. May 20, 2020IntroReferral10000

    Introduced in Senate

Introduced in SenateMay 20, 2020

Small Business Lending Continuity Act of 2020

This bill revises the authorization for certain Small Business Administration (SBA) loan products currently linked to the Paycheck Protection Program that was implemented in response to COVID-19 (i.e., coronavirus disease 2019).

Under current law, the authorization for the Paycheck Protection Program and the SBA's standard small business loan products (the 7(a) loan program) are combined into one joint authorization for the duration of the Paycheck Protection Program. The bill returns the 7(a) loan program to the purview of its stand-alone authorization to prevent it from being terminated upon the two programs' attainment of the joint authorization cap.

Passed SenateMay 20, 202055

Small Business Lending Continuity Act of 2020

This bill revises the authorization for certain Small Business Administration (SBA) loan products currently linked to the Paycheck Protection Program that was implemented in response to COVID-19 (i.e., coronavirus disease 2019).

Under current law, the authorization for the Paycheck Protection Program and the SBA's standard small business loan products (the 7(a) loan program) are combined into one joint authorization for the duration of the Paycheck Protection Program. The bill returns the 7(a) loan program to the purview of its stand-alone authorization to prevent it from being terminated upon the two programs' attainment of the joint authorization cap.

Small Business Lending Continuity Act of 2020 — Informed