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Bills
House Bill 6268
116th Congress(2019-2020)
SBA Business Stabilization Direct Loan Program Act of 2020
Introduced
Introduced
Introduced in House on Mar 12, 2020
Overview
Text
Introduced
Mar 12, 2020
Latest Action
Mar 12, 2020
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
6268
Congress
116
Policy Area
Commerce
Commerce
Primary focus of measure is business investment, development, regulation; small business; consumer affairs; competition and restrictive trade practices; manufacturing, distribution, retail; marketing; intellectual property. Measures concerning international competitiveness and restrictions on imports and exports may fall under Foreign Trade and International Finance policy area.
Sponsorship by Party
Democrat
Nydia Velazquez
New York
Democrat
Judy Chu
California
Democrat
Jason Crow
Colorado
Democrat
Brad Schneider
Illinois
Democrat
Andy Kim
New Jersey
Democrat
Adriano Espaillat
New York
Democrat
Antonio Delgado
New York
Democrat
Chrissy Houlahan
Pennsylvania
Democrat
Dwight Evans
Pennsylvania
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

SBA Business Stabilization Direct Loan Program Act of 2020

This bill requires the Small Business Administration (SBA) to temporarily make loans directly to small businesses located in a U.S. state or territory with a confirmed or presumed positive case of COVID-19 (i.e., coronavirus disease 2019).

A recipient of such a loan may use the funds to, among other things (1) make periodic payments of principal and interest on outstanding SBA loans; (2) provide benefits to employees such as disability insurance, sick leave, and paid family leave; (3) pay wages to employees; or (4) provide employees and patrons with the necessary items specified by a public health authority to mitigate the spread of the coronavirus.

The SBA shall accept any available collateral to secure such a loan and shall not decline to make a loan to an otherwise eligible borrower due solely to inadequate collateral.

Text (1)
Introduced in House
March 12, 2020
Related Bills (2)
Mar 23, 2020
Introduced in House
1
Sponsorship
House Bill 6341
Small Business Relief Guaranteed Loan Program Act of 2020
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Mar 19, 2020
Introduced in House
3
Sponsorship
House Bill 6312
COVID–19 Relief for Small Businesses Act of 2020
Introduced
Type
Related Bill
Related Bill
A related bill may be a companion measure, an identical bill, a procedurally-related measure, or one with text similarities. Bill relationships are identified by the House, the Senate, or CRS, and refer only to same-Congress measures.
Identified By
CRS
Actions (2)
03/12/2020
Referred to the House Committee on Small Business.
03/12/2020
Introduced in House
Public Record
Record Updated
Feb 8, 2022 11:25:40 PM
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