S. 3541 · 116th Congress
A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for…
Full title
A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for other purposes.
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
BaldwinSponsorNo cosponsors.
This bill establishes certain measures related to small business disaster loans made in response to COVID-19 (i.e., coronavirus disease 2019).
What it does: CRS summary · 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for other purposes.
Latest action (Mar 19, 2020): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Mar 19, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.