H.R.6333 - To establish a Small Business Financial Assistance Program to support small businesses during the COVID-19 emergency, and for other purposes.116th Congress (2019-2020) |
|Sponsor:||Rep. Beatty, Joyce [D-OH-3] (Introduced 03/23/2020)|
|Committees:||House - Small Business; Financial Services|
|Latest Action:||House - 03/23/2020 Referred to the Committee on Small Business, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.6333 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in House (03/23/2020)
This bill requires the Department of the Treasury to establish a Small Business Financial Assistance Program to provide loans and loan guarantees to small businesses.
Such loans shall be zero-interest loans, provided a recipient does not involuntarily terminate any employee during the COVID-19 (i.e., coronavirus disease 2019) emergency. If a recipient demonstrates that its full-time employment has not decreased after one year, the Treasury shall forgive the remaining outstanding principal and interest on such loan or loan guarantee. Further, the Treasury may, upon request, provide applicants with a cash advance on such loans.