Small Business Lending Continuity Act of 2020
USA116th CongressS-3782| Senate
| Updated: 6/3/2020
Tammy Duckworth
Democratic Senator
Illinois
Cosponsors (6)
Small Business and Entrepreneurship Committee
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
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.
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Timeline
Introduced in Senate
Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S2560; text: CR S2560)
Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S2560; text: CR S2560)
Message on Senate action sent to the House.
Received in the House.
Held at the desk.
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Commerce
Business expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earnings
Small Business Lending Continuity Act of 2020
USA116th CongressS-3782| Senate
| Updated: 6/3/2020
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.
Suggested Questions
Get AI-generated questions to help you understand this bill better
Timeline
Introduced in Senate
Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S2560; text: CR S2560)
Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S2560; text: CR S2560)
Message on Senate action sent to the House.
Received in the House.
Held at the desk.
Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-604.
Tammy Duckworth
Democratic Senator
Illinois
Cosponsors (6)
Small Business and Entrepreneurship Committee
Commerce
- Introduced
- In Committee
- On Floor
- Passed Chamber
- Enacted
Business expensesCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall businessWages and earnings