There is 1 version of this bill. View text

Click the check-box to add or remove the section, click the text link to scroll to that section.
Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Small Business Disaster Loan Enhancement Act of 2020

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to set the interest rate applicable to certain economic injury disaster loans, and for other purposes.

Actions Overview (1)

Date Actions Overview
07/02/2020Introduced in Senate

All Actions (1)

Date All Actions
07/02/2020Read twice and referred to the Committee on Small Business and Entrepreneurship.
Action By: Senate

Cosponsors (5)

* = Original cosponsor
CosponsorDate Cosponsored
Sen. Cortez Masto, Catherine [D-NV]* 07/02/2020
Sen. Wyden, Ron [D-OR] 07/21/2020
Sen. Gillibrand, Kirsten E. [D-NY] 07/21/2020
Sen. King, Angus S., Jr. [I-ME] 07/21/2020
Sen. Merkley, Jeff [D-OR] 07/28/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Reports
Senate Small Business and Entrepreneurship07/02/2020 Referred to

As of 10/30/2020 no related bill information has been received for S.4167 - Small Business Disaster Loan Enhancement Act of 2020

Latest Summary (1)

There is one summary for S.4167. View summaries

Shown Here:
Introduced in Senate (07/02/2020)

Small Business Disaster Loan Enhancement Act of 2020

This bill authorizes and provides funding for additional disaster loans and grants made to small businesses by the Small Business Administration (SBA) and temporarily limits the interest rate for certain economic injury disaster loans.

Specifically, the bill authorizes an additional disaster loan to a prior recipient that received such a loan during the period between February 15, 2020, and December 31, 2020, up to an aggregate amount of $2 million. Further, the bill prohibits the SBA from imposing a maximum loan amount limit that is lower than $2 million for an initial disaster loan; rather, the SBA shall only consider the financial need and ability of the applicant to repay.

The bill also authorizes a recipient of such additional lending to request an additional advance, up to an aggregate amount of $10,000. A recipient that suffered a decline in revenue of not less than 50% between March 2, 2020, and December 31, 2020, may request an advance of not more than $25,000.

Further, the interest rate for any economic injury disaster loan made between February 15, 2020, and December 31, 2020, shall not exceed 1%.

Any amounts made available to provide loans under the Paycheck Protection Program established to support small businesses in response to COVID-19 (i.e., coronavirus disease 2019) that are unobligated as of August 8, 2020, shall be made available for SBA disaster loans.