S. 513 · 117th Congress
Ensuring Increased Disaster Loans for 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
RosenSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Ensuring Increased Disaster Loans for Small Businesses Act or the EIDL for Small Businesses Act
What it does: CRS summary · Introduced in Senate · Mar 1, 2021
Ensuring Increased Disaster Loans for Small Businesses Act or the EIDL for Small Businesses Act
This bill authorizes and provides funding for additional Small Business Administration (SBA) disaster loans and advances on such loans, and it modifies the requirements for providing these advances.
Specifically, the bill authorizes an additional disaster loan to a prior recipient that received such a loan during the period between January 31, 2020, and December 31, 2021, up to an aggregate amount of $2 million. Further, the bill prohibits the SBA from imposing a maximum loan amount limit that is lower than $2 million for an initial disaster loan.
The bill also requires the SBA to provide a recipient of an additional disaster loan an additional advance such that the total advance amount received by the applicant is $10,000.
The SBA must submit a monthly report on the status of appropriations for disaster loans.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Ensuring Increased Disaster Loans for Small Businesses Act
Also known as: EIDL for Small Businesses Act
Latest action (Mar 1, 2021): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Mar 1, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.