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Small Business Disaster Loan Enhancement Act of 2020
Legislative Progress
Momentum (last 30 days)
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0 actions · 0 new cosponsors · 0 votes
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vs 5,086 other S bills in the 116th — cohort avg 30d
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.
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Filing registrants (2)
2020 · fourth_quarter · Taxation/Internal Revenue Code
Work Opportunity Tax Credit (WOTC). Employee Retention Tax Credit (ERTC). Implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Pub. L. No. 116-136. Tax proposals on perishable food and lost inventory. Proposals to support critical infrastructure workers, including food and restaurant workers, and exempt them from certain taxes during COVID-19 pandemic. S. 4178, a bill to provide for a credit against employment taxes for certain workplace safety expenses, and for other purposes. S. 4014, Prioritized Paycheck Protection Program Act. Implementation of the Paycheck Protection Program Flexibility Act of 2020, Pub. L. No. 116-142. H.R. 7481/S. 3814, RESTART Act. H.R. 6821/S. 3612, Small Business Expense Protection Act of 2020. H.R. 6776, Jumpstarting Our Businesses Success Credit (JOBS Credit) Act of 2020. H.R. 7197/S. 4012, RESTAURANTS Act of 2020. H.R. 6841, Assistance and Gratitude for Coronavirus Heroes in Agribusiness who are Invaluable to the Nation (AG CHAIN) Act. H.R. 7079, Clean Start: Back to Work Tax Credit Act. S. 4117, Paycheck Protection Small Business Forgiveness Act. S. 4178, a bill to provide for a credit against employment taxes for certain workplace safety expenses, and for other purposes. S. 4167, Small Business Disaster Loan Enhancement Act of 2020. H.R. 1869/S. 803, Restoring Investment in Improvements Act. S. 4321, Continuing Small Business Recovery and Paycheck Protection Program Act. Senate Healthcare, Economic Assistance, Liability, and Schools Act (HEALS Act). H.R. 7615/S. 4214, Healthy Workplaces Tax Credit Act. S. 4319, Supporting Americas Restaurant Workers Act. S. 4775, Delivering Immediate Relief to America's Families, Schools and Small Businesses Act. S. 4807, Hospitality and Commerce Job Recovery Act of 2020. S. 5067, Filtering and Retrofitting the Environment for Safe and Healthy Activities Indoors and Revenue (FRESH AIR) for Businesses Act.
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Introduced in Senate
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Sources: Congress.gov
Client expense: $600,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Executive Office of the President (EOP), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Labor, Dept of (DOL), SENATE, Small Business Administration (SBA), Treasury, Dept of
2020 · fourth_quarter · Budget/Appropriations
COVID relief bills S. 4167 - Small Business Disaster Loan Enhancement Act of 2020 S. 4227 - EIDL for Small Businesses Act
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2020 · third_quarter · Taxation/Internal Revenue Code
Work Opportunity Tax Credit (WOTC). Implementation of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Pub. L. No. 116-136. Tax proposals on perishable food and lost inventory. Proposals to support critical infrastructure workers, including food and restaurant workers, and exempt them from certain taxes during COVID-19 pandemic. S. 4178, a bill to provide for a credit against employment taxes for certain workplace safety expenses, and for other purposes. S. 4014, Prioritized Paycheck Protection Program Act. H.R. 7010, Paycheck Protection Program Flexibility Act of 2020. H.R. 7481/S. 3814, RESTART Act. H.R. 6821/S. 3612, Small Business Expense Protection Act of 2020. H.R. 6776, Jumpstarting Our Businesses Success Credit (JOBS Credit) Act of 2020. H.R. 7197/S. 4012, RESTAURANTS Act of 2020. H.R. 6841, Assistance and Gratitude for Coronavirus Heroes in Agribusiness who are Invaluable to the Nation (AG CHAIN) Act. H.R. 7079, Clean Start: Back to Work Tax Credit Act. S. 4117, Paycheck Protection Small Business Forgiveness Act. S. 4178, a bill to provide for a credit against employment taxes for certain workplace safety expenses, and for other purposes. S. 4167, Small Business Disaster Loan Enhancement Act of 2020. H.R. 1869/S. 803, Restoring Investment in Improvements Act. S. 4321, Continuing Small Business Recovery and Paycheck Protection Program Act. Senate Healthcare, Economic Assistance, Liability, and Schools Act (HEALS Act). H.R. 7615/S. 4214, Healthy Workplaces Tax Credit Act.
Client expense: $610,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Executive Office of the President (EOP), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Justice, Dept of (DOJ), Labor, Dept of (DOL), SENATE, Small Business Administration (SBA), Treasury, Dept of
2020 · third_quarter · Budget/Appropriations
SBA loan programs and COVID relief bills S. 4167 - Small Business Disaster Loan Enhancement Act of 2020 S. 4227 - EIDL for Small Businesses Act
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Democratic |
| NY |
| Ron Wyden | Democratic | OR |