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.

Summary

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.

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

Timeline

1. 18 March 2020

   Introduced

   Read twice and referred to the Committee on Small Business and Entrepreneurship.

   Source: IntroReferral

2. 18 March 2020

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 18 March 2020 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 18 March 2020

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 18 March 2020

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 18 March 2020

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  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

• Sen. Coons, Christopher A. [D-DE] · D · Sponsor
• Sen. Cardin, Benjamin L. [D-MD] · D · Sponsor
• Sen. Klobuchar, Amy [D-MN] · D · Sponsor
• Sen. Duckworth, Tammy [D-IL] · D · Sponsor
• Sen. Wyden, Ron [D-OR] · D · Sponsor
• Sen. Markey, Edward J. [D-MA] · D · Sponsor
• Sen. Shaheen, Jeanne [D-NH] · D · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Gillibrand, Kirsten E. [D-NY] · D · Sponsor
• Sen. King, Angus S., Jr. [I-ME] · I · Sponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Sponsor
• Sen. Hassan, Margaret Wood [D-NH] · D · Sponsor
• Sen. Cantwell, Maria [D-WA] · D · Cosponsor
• Sen. Daines, Steve [R-MT] · R · Cosponsor
• Sen. Murray, Patty [D-WA] · D · Cosponsor
• Sen. Van Hollen, Chris [D-MD] · D · Cosponsor
• · sssb00 · Standing

Related records

• related to → CARES Act
• related to ← COVID–19 Relief for Small Businesses Act of 2020
• related to ← Small Business Repayment Relief Act of 2020
• related to ← Workforce Emergency Response Act of 2020