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Point Roberts Small Business Fairness Act

USA117th CongressHR-3760| House 
| Updated: 6/8/2021
Suzan K. DelBene

Suzan K. DelBene

Democratic Representative

Washington

Cosponsors (3)
Derek Kilmer (Democratic)Marilyn Strickland (Democratic)Rick Larsen (Democratic)

Small Business Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Point Roberts Small Business Fairness Act This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain small businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019). Eligible small businesses must (1) have experienced a loss in revenue that is greater than 50% during the second, third, or fourth quarter of 2020 compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border directly resulted in a reduction in gross receipts or restricted the ability of American customers to access the location of such businesses. The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, or (2) any emergency advance under the economic impact disaster loan program.
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Timeline
Jun 8, 2021
Introduced in House
Jun 8, 2021
Referred to the House Committee on Small Business.
  • June 8, 2021
    Introduced in House


  • June 8, 2021
    Referred to the House Committee on Small Business.

Commerce

Related Bills

  • S 117-1492: Remote Recreational Small Business Interruption Program Act
Border security and unlawful immigrationCanadaCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall business

Point Roberts Small Business Fairness Act

USA117th CongressHR-3760| House 
| Updated: 6/8/2021
Point Roberts Small Business Fairness Act This bill requires the Small Business Administration (SBA) to establish a program to make forgivable loans to certain small businesses that are impacted by border closures due to COVID-19 (i.e., coronavirus disease 2019). Eligible small businesses must (1) have experienced a loss in revenue that is greater than 50% during the second, third, or fourth quarter of 2020 compared with the same period in the previous year; and (2) show that the closure of the U.S.-Canada border directly resulted in a reduction in gross receipts or restricted the ability of American customers to access the location of such businesses. The maximum loan amount shall be equal to 75% of the business's FY2019 revenue, and the SBA shall forgive 100% of the value of such loan, less the amount the borrower received from (1) any other loan forgiveness program, or (2) any emergency advance under the economic impact disaster loan program.
View Full Text

Suggested Questions

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

Timeline
Jun 8, 2021
Introduced in House
Jun 8, 2021
Referred to the House Committee on Small Business.
  • June 8, 2021
    Introduced in House


  • June 8, 2021
    Referred to the House Committee on Small Business.
Suzan K. DelBene

Suzan K. DelBene

Democratic Representative

Washington

Cosponsors (3)
Derek Kilmer (Democratic)Marilyn Strickland (Democratic)Rick Larsen (Democratic)

Small Business Committee

Commerce

Related Bills

  • S 117-1492: Remote Recreational Small Business Interruption Program Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Border security and unlawful immigrationCanadaCardiovascular and respiratory healthEmergency medical services and trauma careGovernment lending and loan guaranteesInfectious and parasitic diseasesSmall business