Small Business Access to Recovery Capital Act
Latest action · Oct 20, 2020 Read twice and referred to the Committee on Small Business and Entrepreneurship.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedOct 20, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Small Business Access to Recovery Capital Act
This bill temporarily modifies the 7(a) Loan Guaranty Program of the Small Business Administration (SBA) by waiving borrower and lender fees, increasing the government guarantee to 95%, increasing the maximum loan value to $10 million, and waiving repayment for any new 7(a) loans for one year. The SBA must issue temporary COVID-19 (i.e., coronavirus disease 2019) guidance that reflects these changes.
Cosponsors 3
Members who signed on, in the order they did. All signed on Oct 20, 2020.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-ID | James E. Risch | Original | Oct 20, 2020 |
| R-MO | Josh Hawley | Original | Oct 20, 2020 |
| R-ME | Susan M. Collins | Original | Oct 20, 2020 |
Actions 2
Everything that happened, newest first.
- Oct 20, 2020Introduced in Senate
- Oct 20, 2020Read twice and referred to the Committee on Small Business and Entrepreneurship.
Subjects
Assigned by the Library of Congress. Policy area: Commerce.
Text 1
Each version as it was printed, newest first.
- Oct 20, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.