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United States · Bill · HR

H.R. 7451 (116th)

HEAL Act

referredUnited States· United States Congress· EN

Introduced

1 July 2020

Last action

1 July 2020 · Introduced

Status

Referred to the Committee on Small Business, and in addition to the Committee on the Budget, 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.

Sponsors

Rep. Evans, Dwight [D-PA-3], Rep. Case, Ed [D-HI-1], Rep. Carson, André [D-IN-7], Rep. Jackson Lee, Sheila [D-TX-18], Rep. Thompson, Bennie G. [D-MS-2], Rep. Chabot, Steve [R-OH-1]

Subjects

Taxation

Source updated

3 December 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Helping Entrepreneurs Access Loans Act or the HEAL Act This bill establishes eligibility and provides funding for Small Business Administration (SBA) disaster loans and advance grants for eligible small businesses. Eligible small businesses are those that (1) are located in an area in which the SBA declared a disaster due to civil unrest occurring between May 26, 2020, and July 1, 2020; (2) incurred damage due to such civil unrest; and (3) have average annual gross receipts of $2 million or less. Such small businesses shall be eligible to receive forgivable loans and advance grants under the SBA's disaster loan program. Such loans shall be equal to 100% of the amount required to repair, rehabilitate, or replace property that was damaged or destroyed due to civil unrest and that was not compensated for by insurance, state or local government grants, or any other means. An applicant may also request an advance of up to $10,000 on such loan. Further, a recipient shall be eligible for forgiveness of 75% of such loan if they are still in operation on December 31, 2021, and have submitted specified documentation related to sales and taxes paid. Additionally, the SBA shall waive certain loan requirements such as (1) personal guarantees, (2) inability to obtain credit elsewhere, and (3) provision of collateral.

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

Timeline

  1. 1 July 2020

    Introduced

    Referred to the Committee on Small Business, and in addition to the Committee on the Budget, 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. 1 July 2020

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 1 July 2020

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 1 July 2020

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  • Introduced in House (PDF)

    Introduced in House · EN · 1 July 2020

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 1 July 2020

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Sponsors

Related records

Sources

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