Bill SponsorBILLSPONSOR
Bill Sponsor
Politicians
Bills
House Bill 6341
116th Congress(2019-2020)
Small Business Relief Guaranteed Loan Program Act of 2020
Introduced
Introduced
Introduced in House on Mar 23, 2020
Overview
Text
Introduced
Mar 23, 2020
Latest Action
Mar 23, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6341
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Angie Craig
Minnesota
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Small Business Relief Guaranteed Loan Program Act of 2020

This bill requires the Small Business Administration (SBA) to carry out a temporary program to guarantee loans made by banks or other lenders to small businesses affected by COVID-19 (i.e., coronavirus disease 2019).

Such loans shall be zero-interest, fee-free loans, and up to 50% of the principal on such loans shall be forgiven if a recipient demonstrates that its employment has not decreased between December 31, 2019, and December 31, 2021.

In addition to permitted uses of SBA loans, such guaranteed loans may also be used for purposes such as providing employees of the borrower with (1) benefits and wages, (2) technology for shifting to telework or remote work, or (3) necessary items specified by a public health authority to mitigate the spread of COVID-19.

Text (1)
Introduced in House
March 23, 2020
Related Bills (2)
Mar 19, 2020
Introduced in House
3
Sponsorship
House Bill 6312
COVID–19 Relief for Small Businesses Act of 2020
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Mar 12, 2020
Introduced in House
9
Sponsorship
House Bill 6268
SBA Business Stabilization Direct Loan Program Act of 2020
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
03/23/2020
Referred to the House Committee on Small Business.
03/23/2020
Introduced in House
Public Record
Record Updated
Feb 8, 2022 11:15:20 PM
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