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S 513 117th 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: March 1, 2021 Introduced by: Rosen, Jacky Democratic · Nevada 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 1, 2021
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Mar 1, 2021
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 these 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, 2021, 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 recipient of an additional disaster loan an additional advance such that the total advance amount received by the applicant is $10,000.

The SBA must submit a monthly report on the status of appropriations for disaster loans.

What's happening now March 1, 2021

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

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1