S 4227 116th Congress Senate Commerce Appropriations Cardiovascular and respiratory health Congressional oversight Disaster relief and insurance Economic performance and conditions Emergency medical services and trauma care Executive agency funding and structure Government lending and loan guarantees Health programs administration and funding Health promotion and preventive care Infectious and parasitic diseases Small Business Administration Small business

EIDL for Small Businesses Act

Introduced: July 20, 2020 Introduced by: Rosen, Jacky Democratic · Nevada See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 10, 2020

Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-519.

Jul 20, 2020

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

Jul 20, 2020

Introduced in Senate

Plain-English summary Congressional Research Service

Ensuring Increased Disaster Loans for Small Businesses Act or the EIDL for Small Businesses Act

This bill authorizes and provides funding for additional Small Business Administration (SBA) disaster loans and advances on such loans, and it modifies the requirements for providing such advances.

Specifically, the bill authorizes an additional disaster loan to a prior recipient that received such a loan during the period between January 31, 2020, and December 31, 2020, up to an aggregate amount of $2 million. Further, the bill prohibits the SBA from imposing a maximum loan amount limit that is lower than $2 million for an initial disaster loan.

The bill also requires the SBA to provide a disaster loan applicant with an advance no later than three days after the applicant submits a loan application, regardless of whether such application has been approved by that date. Further, the SBA shall provide a recipient of an additional disaster loan an additional advance such that the total advance amount received by the applicant is $10,000.

What's happening now December 10, 2020

Committee on Small Business and Entrepreneurship. Hearings held. Hearings printed: S.Hrg. 116-519.

Committees of jurisdiction 1