Small Business Access to Recovery Capital Act This bill 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%, and increasing the maximum loan value to $10 million. The SBA must issue temporary COVID-19 guidance that reflects these changes.
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Commerce
Business investment and capitalCompetitiveness, trade promotion, trade deficitsEconomic performance and conditionsGovernment information and archivesGovernment lending and loan guaranteesSmall businessUser charges and fees
Small Business Access to Recovery Capital Act
USA117th CongressS-174| Senate
| Updated: 2/2/2021
Small Business Access to Recovery Capital Act This bill 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%, and increasing the maximum loan value to $10 million. The SBA must issue temporary COVID-19 guidance that reflects these changes.
Business investment and capitalCompetitiveness, trade promotion, trade deficitsEconomic performance and conditionsGovernment information and archivesGovernment lending and loan guaranteesSmall businessUser charges and fees