To establish a Small Business Financial Assistance Program to support small businesses during the COVID-19 emergency, and for other purposes.

Summary

This bill requires the Department of the Treasury to establish a Small Business Financial Assistance Program to provide loans and loan guarantees to small businesses. Such loans shall be zero-interest loans, provided a recipient does not involuntarily terminate any employee during the COVID-19 (i.e., coronavirus disease 2019) emergency. If a recipient demonstrates that its full-time employment has not decreased after one year, the Treasury shall forgive the remaining outstanding principal and interest on such loan or loan guarantee. Further, the Treasury may, upon request, provide applicants with a cash advance on such loans.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 23 March 2020

   Introduced

   Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 23 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

3. 23 March 2020

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 23 March 2020 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 March 2020

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 March 2020

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 23 March 2020

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Beatty, Joyce [D-OH-3] · D · Sponsor
• Rep. Waters, Maxine [D-CA-43] · D · Cosponsor
• · hsba00 · Standing
• · hssm00 · Standing

Related records

• related to → Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act
• related to → Workforce Emergency Response Act of 2020