United States · Bill · S
S. 3541 (116th)
A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for other purposes.
Introduced
19 March 2020
Last action
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Status
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Sponsors
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Subjects
Discovery layer
Source updated
14 January 2025
Summary
This bill establishes certain measures related to small business disaster loans made in response to COVID-19 (i.e., coronavirus disease 2019). Specifically, the bill authorizes the Small Business Administration to forgive the outstanding principal balance of a small business disaster loan made in response to COVID-19 if the borrower maintains all of its employees at full pay and benefits throughout the duration of the declared national emergency. The bill also raises the maximum amount for a disaster loan made in response to COVID-19, and it waives the requirement that a borrower demonstrate an inability to obtain credit elsewhere.
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Votes
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Versions
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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate · EN · 19 March 2020
Introduced in Senate (PDF)
Introduced in Senate · EN · 19 March 2020
Introduced in Senate
summary · EN · 19 March 2020
Sponsors
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Related records
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/3541
- Open data entity: https://api.congress.gov/v3/bill/116/s/3541