S 3531
Small Business Relief From Communicable Disease Induced Economic Hardship Act of 2020
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Bill overview
This bill, the Small Business Relief From Communicable Disease Induced Economic Hardship Act of 2020, aims to provide financial assistance to small businesses struggling due to the economic impact of communicable diseases. It expands the definition of a ‘disaster’ under the Small Business Act to include diseases for which the federal government issues travel alerts or warnings, and it allows the Small Business Administration (SBA) to offer interest-free economic injury loans to affected businesses. These loans are available for businesses experiencing hardship as a result of a public health emergency declared by the government related to such diseases.
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