HR 6268
SBA Business Stabilization Direct Loan Program Act of 2020
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- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill creates a program allowing the Small Business Administration (SBA) to provide direct loans to small businesses located in states or territories with confirmed or presumed COVID-19 cases. These loans can be used for various needs, including paying employee benefits, wages, covering rent and utilities, and investing in technology for remote work. The program offers flexible terms, including no interest or fees, and doesn't require adequate collateral, and it is set to expire at the end of 2022.
Sponsors
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Primary sponsor
Nydia M. Velazquez
Cosponsors
Antonio Delgado
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