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SBA Business Stabilization Direct Loan Program Act of 2020

Introduced: March 23, 2020 Introduced by: Velázquez, Nydia M. Democratic · New York See on congress.gov
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 12, 2020
Referred to the House Committee on Small Business.
Mar 12, 2020
Introduced in House
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 Plain-English summary Congressional Research Service

SBA Business Stabilization Direct Loan Program Act of 2020

This bill requires the Small Business Administration (SBA) to temporarily make loans directly to small businesses located in a U.S. state or territory with a confirmed or presumed positive case of COVID-19 (i.e., coronavirus disease 2019).

A recipient of such a loan may use the funds to, among other things (1) make periodic payments of principal and interest on outstanding SBA loans; (2) provide benefits to employees such as disability insurance, sick leave, and paid family leave; (3) pay wages to employees; or (4) provide employees and patrons with the necessary items specified by a public health authority to mitigate the spread of the coronavirus.

The SBA shall accept any available collateral to secure such a loan and shall not decline to make a loan to an otherwise eligible borrower due solely to inadequate collateral.

What's happening now March 12, 2020

Referred to the House Committee on Small Business.

 Related & companion bills 2
  • HR 6312 Related bill COVID–19 Relief for Small Businesses Act of 2020
  • HR 6341 Related bill Small Business Relief Guaranteed Loan Program Act of 2020
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 8
All 8 Democratic 7
Delgado, Antonio
· Mar 23, 2020
 D
Kim, Andy
New Jersey · Mar 23, 2020
 D
Chu, Judy
California · Mar 16, 2020
 D
Espaillat, Adriano
New York · Mar 16, 2020
 D
Crow, Jason
Colorado · Mar 13, 2020
 D
Evans, Dwight
Pennsylvania · Mar 13, 2020
 D
Houlahan, Chrissy
Pennsylvania · Mar 13, 2020
 D
Schneider, Bradley Scott
Illinois · Mar 13, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 6268: SBA Business Stabilization Direct Loan Program Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-HR-6268/
MLA
"H.R. 6268: SBA Business Stabilization Direct Loan Program Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-HR-6268/.
Bluebook (legal)
H.R. 6268, 116th Cong. (2026), https://openamerica.io/bill/116-HR-6268/.
Markdown link
[H.R. 6268: SBA Business Stabilization Direct Loan Program Act of 2020](https://openamerica.io/bill/116-HR-6268/)
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