US SB4817 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 4-0)
Status: Introduced on October 20 2020 - 25% progression, died in committee
Action: 2020-10-20 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on October 20 2020 - 25% progression, died in committee
Action: 2020-10-20 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
Pending: Senate Small Business And Entrepreneurship Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Temporarily modifies the 7(a) Loan Guaranty Program of the Small Business Administration (SBA) by waiving borrower and lender fees, increasing the government guarantee to 95%, increasing the maximum loan value to $10 million, and waiving repayment for any new 7(a) loans for one year. The SBA must issue temporary COVID-19 (i.e., coronavirus disease 2019) guidance that reflects these changes.
Title
Small Business Access to Recovery Capital Act
Sponsors
| Sen. Marco Rubio [R-FL] | Sen. James Risch [R-ID] | Sen. Susan Collins [R-ME] | Sen. Josh Hawley [R-MO] |
History
| Date | Chamber | Action |
|---|---|---|
| 2020-10-20 | Senate | Read twice and referred to the Committee on Small Business and Entrepreneurship. |
Subjects
Cardiovascular and respiratory health
Commerce
Competitiveness, trade promotion, trade deficits
Economic performance and conditions
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
User charges and fees
Commerce
Competitiveness, trade promotion, trade deficits
Economic performance and conditions
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
User charges and fees
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/senate-bill/4817/all-info |
| Text | https://www.congress.gov/116/bills/s4817/BILLS-116s4817is.pdf |
