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HR 399 117th Congress House Commerce Appropriations Cardiovascular and respiratory health Disaster relief and insurance Emergency medical services and trauma care Employee leave Government lending and loan guarantees Health technology, devices, supplies Income tax exclusion Infectious and parasitic diseases Small business Wages and earnings Worker safety and health

Border Business COVID–19 Rescue Act

Introduced: January 21, 2021 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 21, 2021
Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, 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.
Jan 21, 2021
Referred to the Subcommittee on Health.
Jan 21, 2021
Introduced in House
 Plain-English summary Congressional Research Service

Border Business COVID-19 Rescue Act

This bill establishes and provides funding for a program whereby the Small Business Administration (SBA) must make loans to border businesses directly impacted by COVID-19 (i.e., coronavirus disease 2019). A border business is any entity, otherwise eligible for an SBA disaster loan, that (1) has its principal office in the United States, (2) has annual revenue of up to $500,000, and (3) is located within 25 miles of the U.S. border.

The SBA shall make loans of up to $500,000 to border businesses, and these loans must have a zero percent interest rate. Loan recipients must use the funds to mitigate the effects of COVID-19 on their business, including by (1) providing paid sick leave to employees unable to work because of the pandemic, (2) making rent or mortgage payments, (3) purchasing personal protective equipment, or (4) paying for logistical expenses associated with border closures due to the pandemic.

Recipients may also request an advance on the loan, which shall not be less than $10,000. Further, certain recipients may be forgiven up to 100% of the loan, less any amount received under other specified COVID-19 economic relief programs.

What's happening now January 21, 2021

Referred to the Committee on Small Business, and in addition to the Committee on Ways and Means, 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 3
 Cosponsors 2
All 2 Democratic 2