S. 1690 · 117th Congress
Keeping Our Promise to Small Businesses Act
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
RosenSponsor2 cosponsors · 2 D
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill provides additional funding to the Small Business Administration (SBA) for the Paycheck Protection Program, which was established to assist small businesses during the COVID-19 pandemic.
What it does: CRS summary · Introduced in Senate · May 18, 2021
Keeping Our Promise to Small Businesses Act
This bill provides additional funding to the Small Business Administration (SBA) for the Paycheck Protection Program, which was established to assist small businesses during the COVID-19 pandemic.
Specifically, the bill provides the additional funding for the cost of
- processing loan applications that were submitted on or before May 4, 2021; and
- providing guaranteed loans to eligible entities that apply on or before May 31, 2021, have no more than 100 employees, and are located in a state with an unemployment rate of at least 6%.
In guaranteeing the new loans, the SBA must give a preference to entities that are women-, minority-, or veteran-owned.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Keeping Our Promise to Small Businesses Act
Latest action (May 18, 2021): Read twice and referred to the Committee on Appropriations.
Policy area: Commerce · Origin: Senate · Introduced: May 18, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.