S 4817
116th Congress
Senate
Commerce
Cardiovascular and respiratory health
Competitiveness, trade promotion, trade deficits
Economic performance and conditions
Emergency medical services and trauma care
Government lending and loan guarantees
Infectious and parasitic diseases
Small business
User charges and fees
Small Business Access to Recovery Capital Act
Introduced: October 20, 2020
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 20, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Oct 20, 2020
Introduced in Senate
Plain-English summary
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%, increasing the maximum loan value to $10 million, and waiving repayment for any new 7(a) loans for one year. The SBA must issue temporary COVID-19 (i.e., coronavirus disease 2019) guidance that reflects these changes.
What's happening now
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Committees of jurisdiction
1