HR 7522
To establish the Small Business Economic Assistance Program.
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill creates the Small Business Economic Assistance Program to provide financial support to small businesses. The program aims to help businesses with fewer than 50 employees that were established before January 1, 2020, and didn't receive Paycheck Protection Program funds. Eligible businesses will receive $5,000 per employee, with at least 80% of the funds required for employee compensation and the remainder for business expenses like rent or utilities. Any unused funds will be treated as a low-interest loan that must be repaid within a year.
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