Small Business Repayment Relief Act of 2020

Summary

Small Business Repayment Relief Act of 2020 This bill requires the Small Business Administration (SBA) to pay the principal, interest, and any associated fees owed on certain loans made to small businesses for a six month period. The SBA must also encourage the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and state bank regulators to not require lenders to increase their reserves on account of receiving such payments made by the SBA. The SBA shall waive statutory limits on maximum loan maturities for certain loan durations where the lender provides a deferral and extends the maturity of such loans and, when necessary to provide more time because of difficulties during the COVID-19 (i.e., coronavirus disease 2019) pandemic, extend lender site visit requirements.

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Timeline

1. 19 March 2020

   Introduced

   Referred to the House Committee on Small Business.

   Source: IntroReferral

2. 19 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 19 March 2020 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 19 March 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 19 March 2020

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 19 March 2020

  Open at official source

Sponsors

• Antonio Delgado · D · Sponsor
• Cynthia Axne · D · Cosponsor
• Rep. Velázquez, Nydia M. [D-NY-7] · D · Cosponsor
• Chris Pappas · D · Cosponsor
• Del. Norton, Eleanor Holmes [D-DC-At Large] · D · Cosponsor
• Rep. Carson, André [D-IN-7] · D · Cosponsor
• Rep. Chu, Judy [D-CA-28] · D · Cosponsor
• Rep. Crow, Jason [D-CO-6] · D · Cosponsor
• · hssm00 · Standing

Related records

• related to → CARES Act
• related to → COVID–19 Relief for Small Businesses Act of 2020
• related to → A bill to authorize the Administrator of the Small Business Administration to subsidize payments on loans guaranteed under the 7(a) and 504 loan programs or made using funds under the microloan program, and for other purposes.
• related to ← Workforce Emergency Response Act of 2020
• related to ← Responsible Relief for Americans Act