Keeping Our Promise to Small Businesses Act

Summary

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.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 May 2021

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 May 2021

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 18 May 2021

  Open at official source

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