H.R. 6790 · 116th Congress
Business Borrowers Protection Act
- Stage
- In committee
- Sponsor
- Brad Sherman
- Introduced
- 2020-05-08
- Latest action
- 2020-05-08 · Introduced in House
Summary
Business Borrowers Protection Act
This bill prohibits a creditor from enforcing a loan covenant that requires the accelerated repayment of a loan if the borrower receives a loan under certain COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Additionally, a creditor is prohibited from enforcing any loan covenant beginning on the date of enactment of this bill and ending one year after the termination of the COVID-19 national emergency.