US Congress House Bill 6268 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 9-0)
Status: Introduced on March 12 2020 - 25% progression, died in committee
Action: 2020-03-12 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]

Requires the Small Business Administration (SBA) to temporarily make loans directly to small businesses located in a U.S. state or territory with a confirmed or presumed positive case of COVID-19 (i.e., coronavirus disease 2019). A recipient of such a loan may use the funds to, among other things (1) make periodic payments of principal and interest on outstanding SBA loans; (2) provide benefits to employees such as disability insurance, sick leave, and paid family leave; (3) pay wages to employees; or (4) provide employees and patrons with the necessary items specified by a public health authority to mitigate the spread of the coronavirus. The SBA shall accept any available collateral to secure such a loan and shall not decline to make a loan to an otherwise eligible borrower due solely to inadequate collateral.

SBA Business Stabilization Direct Loan Program Act of 2020

Rep. Nydia Velazquez [D-NY]	Rep. Dwight Evans [D-PA]	Rep. Chrissy Houlahan [D-PA]	Rep. Bradley Schneider [D-IL]
Rep. Jason Crow [D-CO]	Rep. Judy Chu [D-CA]	Rep. Adriano Espaillat [D-NY]	Rep. Andy Kim [D-NJ]
Rep. Antonio Delgado [D-NY]

Date	Chamber	Action
2020-03-12	House	Referred to the House Committee on Small Business.
2020-03-12	House	Introduced in House

HB6312 (Related) 2020-03-19 - Referred to the House Committee on Small Business.
HB6341 (Related) 2020-03-23 - Referred to the House Committee on Small Business.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6268/all-info
Text	https://www.congress.gov/116/bills/hr6268/BILLS-116hr6268ih.pdf