HR 7845
Remote Recreational Small Business Interruption Program
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill creates a program offered by the Small Business Administration (SBA) to provide forgivable loans to remote recreational businesses that suffered significant revenue losses due to the U.S.-Canada border closures during the COVID-19 pandemic. Businesses must have experienced a 50% or greater revenue drop between March 2020 and July 2020 and demonstrate that the border closure impacted their ability to serve American customers. The loans, up to 75% of their 2019 revenue, would be fully forgiven after one year, minus any funds received from other loan forgiveness programs or CARES Act advances.
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Primary sponsor
Collin C. Peterson
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