S.4125 - Paycheck Protection Program Extension and Modification Act of 2020116th Congress (2019-2020)
|Sponsor:||Sen. Gardner, Cory [R-CO] (Introduced 07/01/2020)|
|Committees:||Senate - Small Business and Entrepreneurship|
|Latest Action:||Senate - 07/01/2020 Read twice and referred to the Committee on Small Business and Entrepreneurship. (All Actions)|
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Summary: S.4125 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (07/01/2020)
Paycheck Protection Program Extension and Modification Act of 2020
This bill extends through December 31, 2020, the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019), and it authorizes additional lending under the program.
Specifically, the bill authorizes an additional program loan to be made to a prior recipient of a paycheck protection loan. Such additional loan shall be (1) used for allowable expenses under the program, (2) guaranteed in the same manner as a paycheck protection loan, and (3) eligible for forgiveness under the program.