HR 6679
To amend the CARES Act to authorize the financing of inventory of American manufactured products by financial institutions, and for other purposes.
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, amending the CARES Act, aims to help American manufacturers by allowing financial institutions to provide loans specifically for the inventory of finished goods produced in the United States. These loans can cover up to 110% of the manufacturer’s previous 12 months of sales. The bill prioritizes small manufacturers with fewer than 2,000 employees and excludes sales related to products directly created in response to the COVID-19 pandemic from the sales calculation used to determine loan eligibility.
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