Legis Daily

To establish a Small Business Financial Assistance Program to support small businesses during the COVID-19 emergency, and for other purposes.

USA116th CongressHR-6333| House 
| Updated: 3/23/2020
Joyce Beatty

Joyce Beatty

Democratic Representative

Ohio

Cosponsors (1)
Maxine Waters (Democratic)

Small Business Committee, Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill requires the Department of the Treasury to establish a Small Business Financial Assistance Program to provide loans and loan guarantees to small businesses. Such loans shall be zero-interest loans, provided a recipient does not involuntarily terminate any employee during the COVID-19 (i.e., coronavirus disease 2019) emergency. If a recipient demonstrates that its full-time employment has not decreased after one year, the Treasury shall forgive the remaining outstanding principal and interest on such loan or loan guarantee. Further, the Treasury may, upon request, provide applicants with a cash advance on such loans.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 23, 2020
Introduced in House
Mar 23, 2020
Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • March 23, 2020
    Introduced in House
  • March 23, 2020
    Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Commerce

Related Bills

  • HR 116-6379: Workforce Emergency Response Act of 2020
  • HR 116-6321: Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act
Agricultural prices, subsidies, creditCardiovascular and respiratory healthEmergency medical services and trauma careEmployee hiringGovernment lending and loan guaranteesInfectious and parasitic diseasesInterest, dividends, interest ratesSelf-employedSmall businessUnemployment

To establish a Small Business Financial Assistance Program to support small businesses during the COVID-19 emergency, and for other purposes.

USA116th CongressHR-6333| House 
| Updated: 3/23/2020
This bill requires the Department of the Treasury to establish a Small Business Financial Assistance Program to provide loans and loan guarantees to small businesses. Such loans shall be zero-interest loans, provided a recipient does not involuntarily terminate any employee during the COVID-19 (i.e., coronavirus disease 2019) emergency. If a recipient demonstrates that its full-time employment has not decreased after one year, the Treasury shall forgive the remaining outstanding principal and interest on such loan or loan guarantee. Further, the Treasury may, upon request, provide applicants with a cash advance on such loans.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Mar 23, 2020
Introduced in House
Mar 23, 2020
Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
  • March 23, 2020
    Introduced in House
  • March 23, 2020
    Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Joyce Beatty

Joyce Beatty

Democratic Representative

Ohio

Cosponsors (1)
Maxine Waters (Democratic)

Small Business Committee, Financial Services Committee

Commerce

Related Bills

  • HR 116-6379: Workforce Emergency Response Act of 2020
  • HR 116-6321: Financial Protections and Assistance for America’s Consumers, States, Businesses, and Vulnerable Populations Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Agricultural prices, subsidies, creditCardiovascular and respiratory healthEmergency medical services and trauma careEmployee hiringGovernment lending and loan guaranteesInfectious and parasitic diseasesInterest, dividends, interest ratesSelf-employedSmall businessUnemployment