US SB3782 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Engrossed on May 22 2020 - 50% progression
Action: 2020-06-03 - Committee on Small Business and Entrepreneurship. Hearings held.
Text: Latest bill text (Enrolled) [PDF]

Summary

Small Business Lending Continuity Act of 2020 This bill revises the authorization for certain Small Business Administration (SBA) loan products currently linked to the Paycheck Protection Program that was implemented in response to COVID-19 (i.e., coronavirus disease 2019). Under current law, the authorization for the Paycheck Protection Program and the SBA's standard small business loan products (the 7(a) loan program) are combined into one joint authorization for the duration of the Paycheck Protection Program. The bill returns the 7(a) loan program to the purview of its stand-alone authorization to prevent it from being terminated upon the two programs' attainment of the joint authorization cap.

Tracking Information

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Title

Small Business Lending Continuity Act of 2020

Sponsors


History

DateChamberAction
2020-06-03HouseCommittee on Small Business and Entrepreneurship. Hearings held.
2020-05-22HouseHeld at the desk.
2020-05-22HouseReceived in the House.
2020-05-22SenateMessage on Senate action sent to the House.
2020-05-20SenateIntroduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S2560; text: CR S2560)

Subjects


US Congress State Sources


Bill Comments

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