S 4227
EIDL for Small Businesses Act
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- Passed Senate
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- Became Law
Bill overview
This bill, the Ensuring Increased Disaster Loans for Small Businesses Act, aims to improve access to Economic Injury Disaster Loans (EIDL) and emergency advances for small businesses. It increases the maximum loan amount available to new borrowers and existing recipients, allowing for additional loans up to $2 million. The bill also mandates that the Small Business Administration (SBA) provide applicants with an advance within three days of application submission and ensures that eligible recipients receive an additional advance to reach a total of $10,000. Finally, it includes appropriations to support these programs.
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Primary sponsor
Cosponsors
Doug Jones
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