US Congress House Bill 6341 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on March 23 2020 - 25% progression, died in committee
Action: 2020-03-23 - 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 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.

Small Business Relief Guaranteed Loan Program Act of 2020

Rep. Angela Craig [D-MN]

Date	Chamber	Action
2020-03-23	House	Referred to the House Committee on Small Business.
2020-03-23	House	Introduced in House

HB6268 (Related) 2020-03-12 - Referred to the House Committee on Small Business.
HB6312 (Related) 2020-03-19 - Referred to the House Committee on Small Business.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6341/all-info
Text	https://www.congress.gov/116/bills/hr6341/BILLS-116hr6341ih.pdf