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A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for other purposes.

USA116th CongressS-3541| Senate 
| Updated: 3/19/2020
Tammy Baldwin

Tammy Baldwin

Democratic Senator

Wisconsin

Small Business and Entrepreneurship Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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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Timeline
Mar 19, 2020
Introduced in Senate
Mar 19, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • March 19, 2020
    Introduced in Senate


  • March 19, 2020
    Read twice and referred to the Committee on Small Business and Entrepreneurship.

Commerce

Cardiovascular and respiratory healthDisaster relief and insuranceEmergency medical services and trauma careEmployee benefits and pensionsGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earningsWorker safety and health

A bill to modify requirements relating to small business disaster loans made in response to COVID-19, and for other purposes.

USA116th CongressS-3541| Senate 
| Updated: 3/19/2020
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.
View Full Text

Suggested Questions

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

Timeline
Mar 19, 2020
Introduced in Senate
Mar 19, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
  • March 19, 2020
    Introduced in Senate


  • March 19, 2020
    Read twice and referred to the Committee on Small Business and Entrepreneurship.
Tammy Baldwin

Tammy Baldwin

Democratic Senator

Wisconsin

Small Business and Entrepreneurship Committee

Commerce

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Cardiovascular and respiratory healthDisaster relief and insuranceEmergency medical services and trauma careEmployee benefits and pensionsGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earningsWorker safety and health