Small Business Access to Recovery Capital Act
Summary
Small Business Access to Recovery Capital Act This bill temporarily modifies the 7(a) Loan Guaranty Program of the Small Business Administration (SBA) by waiving borrower and lender fees, increasing the government guarantee to 95%, and increasing the maximum loan value to $10 million. The SBA must issue temporary COVID-19 guidance that reflects these changes.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2021
Committee Review
Floor Vote
President
Introduced Feb 2, 2021
Last action Feb 2, 2021
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
2
Key actions
0
Committee
1
Feb 2, 2021
Committee
Read twice and referred to the Committee on Small Business and Entrepreneurship.
upper
Feb 2, 2021
Introduced
Introduced in Senate
upper
1 primary · 2 co-sponsors
Sponsors
Role
Legislator
Party
State
District
P
Marco Rubio
RRepublican
Co
James E. Risch
RRepublican
Co
Susan M. Collins
RRepublican
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