Senate Bill 4817
116th Congress(2019-2020)
Small Business Access to Recovery Capital Act
Introduced
Introduced in Senate on Oct 20, 2020
Origin Chamber
Senate
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
4817
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.
No Senate votes have been held for this bill.
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.
October 20, 2020
10/20/2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
10/20/2020
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:44:23 PM