S. 3782 · 116th Congress
Small Business Lending Continuity Act of 2020
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Passed the Senate without a recorded vote, then expired. It passed by voice vote or unanimous consent, which don't record how each member voted, but didn't become law before the 116th Congress ended.
D
DuckworthSponsor6 cosponsors · 3 D, 3 R
6 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
- Senate Introduced May 20, 2020
- Senate Passed May 20, 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).
What it does: CRS summary · Passed 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Lending Continuity Act of 2020
Latest action (Jun 3, 2020): Committee on Small Business and Entrepreneurship. Hearings held.
Policy area: Commerce · Origin: Senate · Introduced: May 20, 2020
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
- Senate Introduced May 20, 2020
- Senate Passed May 20, 2020
No recorded floor vote found.