H.R. 6550 · 116th Congress
Access to Credit for Small Businesses Impacted by the COVID–19 Crisis Act of 2020
- Stage
- In committee
- Sponsor
- Brad Sherman
- Introduced
- 2020-04-17
- Latest action
- 2020-04-17 · Introduced in House
Summary
Access to Credit for Small Businesses Impacted by the COVID-19 Crisis Act of 2020
This bill temporarily provides credit unions with an exception to limits on outstanding member business loans. Specifically, for a three-year period, loans used for recovery from the COVID-19 (i.e., coronavirus disease 2019) emergency do not count towards this limit.