US Congress House Bill 6291 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on March 19 2020 - 25% progression, died in committee
Action: 2020-03-19 - Referred to the House Committee on Small Business.
Pending: House Small Business Committee
Text: Latest bill text (Introduced) [PDF]

Expands the Microloan Program of the Small Business Administration (SBA). Specifically, the bill increases the amount of funds available to an individual loan intermediary (i.e., a recipient of SBA direct loans that, in turn, makes microloans to startups and newly established or growing small businesses). The bill also makes eligible for certain technical assistance grants an intermediary that, among other requirements, provides at least 25% of its loans to small businesses in an economically distressed area. In addition, the bill temporarily (1) extends repayment terms for microloans, and (2) authorizes the SBA to provide increased amounts for both technical assistance grants and direct loans. The bill also requires the SBA to temporarily waive (1) the requirement that an intermediary contribute non-federal funds as a condition of receiving a technical assistance grant, and (2) the limitation on amounts allowed to be expended to provide certain information and technical assistance.

Microloan Emergency Assistance Act of 2020

Sen. Andy Kim [D-NJ]

Date	Chamber	Action
2020-03-19	House	Referred to the House Committee on Small Business.
2020-03-19	House	Introduced in House

HB6379 (Related) 2020-03-23 - Referred to the Committee on Appropriations, and in addition to the Committees on the Budget, and Ways and Means, 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.
HB6312 (Related) 2020-03-19 - Referred to the House Committee on Small Business.
SB3554 (Related) 2020-03-20 - Read twice and referred to the Committee on Small Business and Entrepreneurship.
HB6800 (Related) 2020-07-23 - Committee on Small Business and Entrepreneurship. Hearings held.
HR967 (Similar To) 2020-05-15 - Motion to reconsider laid on the table Agreed to without objection.
SB4818 (Related) 2020-12-10 - Committee on Small Business and Entrepreneurship. Hearings held.

Type	Source
Summary	https://www.congress.gov/bill/116th-congress/house-bill/6291/all-info
Text	https://www.congress.gov/116/bills/hr6291/BILLS-116hr6291ih.pdf