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HR 6333 116th Congress House Commerce Agricultural prices, subsidies, credit Cardiovascular and respiratory health Emergency medical services and trauma care Employee hiring Government lending and loan guarantees Infectious and parasitic diseases Interest, dividends, interest rates Self-employed Small business Unemployment

To establish a Small Business Financial Assistance Program to support small businesses during the COVID-19 emergency, and for other purposes.

Introduced: March 23, 2020 Introduced by: Beatty, Joyce Democratic · Ohio See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 23, 2020
Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Mar 23, 2020
Introduced in House
 Plain-English summary Congressional Research Service

This bill requires the Department of the Treasury to establish a Small Business Financial Assistance Program to provide loans and loan guarantees to small businesses.

Such loans shall be zero-interest loans, provided a recipient does not involuntarily terminate any employee during the COVID-19 (i.e., coronavirus disease 2019) emergency. If a recipient demonstrates that its full-time employment has not decreased after one year, the Treasury shall forgive the remaining outstanding principal and interest on such loan or loan guarantee. Further, the Treasury may, upon request, provide applicants with a cash advance on such loans.

What's happening now March 23, 2020

Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Democratic 1