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COVID–19 RELIEF for Small Businesses Act of 2020

Introduced: March 20, 2020 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 20, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Mar 20, 2020
Introduced in Senate
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 Plain-English summary Congressional Research Service

COVID-19 Recovery by Enhancing Loan, Investment, and Education Funds for Small Businesses Act of 2020 or the COVID-19 RELIEF for Small Businesses Act of 2020

This bill establishes measures to provide assistance to small businesses impacted by COVID-19 (i.e., coronavirus disease 2019).

Specifically, the Small Business Administration (SBA) must (1) provide economic injury grants for certain small businesses that have suffered substantial economic injury resulting from COVID-19; (2) establish a program to make direct loans to small businesses, up to 50% of which may be forgiven; and (3) pay the principal, interest, and associated fees on certain SBA loans, including microloans, for a six-month period.

The bill also

  • temporarily increases guarantee amounts and loan sizes for certain SBA loans, temporarily waives or reduces certain fees on SBA loans, and permanently waives the guarantee fee on SBA loans for veterans;
  • revises the Microloan Program to increase available funds, extend repayment terms, and waive certain requirements for technical assistance grants;
  • provides additional funding for small business economic development programs;
  • revises and makes permanent the SBA's Intermediary Lending Program, the Community Advantage Loan Program, the Small Business Innovation Research Program, and the Small Business Technology Transfer Program;
  • establishes the Innovation Centers Program whereby the SBA shall enter into cooperative agreements with certain entities to spur innovation and economic growth in underserved and rural communities; and
  • establishes the Office of Emerging Markets to oversee the planning, coordination, and implementation of SBA efforts to enhance the economic well-being of small businesses in emerging markets.

The federal government must grant certain flexibilities (e.g., additional performance time) to small business federal contractors and expedite the contract award process.

What's happening now March 20, 2020

Read twice and referred to the Committee on Small Business and Entrepreneurship.

 Related & companion bills 8
  • HR 7773 Related bill Unlocking Opportunities in Emerging Markets Act of 2020
  • HR 6320 Related bill Small Contractor Stability Act of 2020
  • HR 6291 Related bill Microloan Emergency Assistance Act of 2020
  • HR 6303 Related bill Increasing Access to Capital Act of 2020
  • HR 6307 Related bill Easing Disruption for America’s Small Contractor Act of 2020
  • S 2360 Related bill Unlocking Opportunities in Emerging Markets Act of 2019
  • S 2717 Related bill UPLIFT Act of 2019
  • S 3518 Related bill COVID–19 Recovery Grants for Small Businesses Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 9
All 9 Democratic 9
D
Peters, Gary C.
Michigan · Mar 22, 2020
 D
Booker, Cory A.
New Jersey · Mar 20, 2020
 D
Cantwell, Maria
Washington · Mar 20, 2020
 D
Coons, Christopher A.
Delaware · Mar 20, 2020
 D
Duckworth, Tammy
Illinois · Mar 20, 2020
 D
Hirono, Mazie K.
Hawaii · Mar 20, 2020
 D
Markey, Edward J.
Massachusetts · Mar 20, 2020
 D
Rosen, Jacky
Nevada · Mar 20, 2020
 D
Shaheen, Jeanne
New Hampshire · Mar 20, 2020
Cite this page click to expand
APA
U.S. Congress. (2026). S. 3554: COVID–19 RELIEF for Small Businesses Act of 2020. 116th Congress. Open America. https://openamerica.io/bill/116-S-3554/
MLA
"S. 3554: COVID–19 RELIEF for Small Businesses Act of 2020." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-3554/.
Bluebook (legal)
S. 3554, 116th Cong. (2026), https://openamerica.io/bill/116-S-3554/.
Markdown link
[S. 3554: COVID–19 RELIEF for Small Businesses Act of 2020](https://openamerica.io/bill/116-S-3554/)
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