S.3519: A bill to authorize the Administrator of the Small Business Administration to subsidize payments on loans guaranteed under the 7(a) and 504 loan programs or made using funds under the microloan program, and for other purposes.

About This Bill

  • Introduced March 18, 2020
  • Latest Major Action March 18, 2020

Bill Version

Bill Summary

This bill requires the Small Business Administration (SBA) to pay the principal, interest, and any associated fees owed on certain loans made to small businesses for a six month period. The SBA must also encourage the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, and state bank regulators to not require lenders to increase their reserves on account of receiving such payments made by the SBA. The SBA...

(Source: Library of Congress)

Bill Actions

Date Description
March 18, 2020
Read twice and referred to the Committee on Small Business and Entrepreneurship.
March 18, 2020

Introduced in the Senate by Christopher A. Coons (D-Del.)

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