S. 3524 · 116th Congress
Coronavirus Credit Expansion Act
- Stage
- In committee
- Sponsor
- Tom Cotton
- Introduced
- 2020-03-18
- Latest action
- 2020-03-18 · Introduced in Senate
Summary
Coronavirus Credit Expansion Act
This bill increases the maximum loan amount for a small business disaster loan made in response to COVID-19 (i.e., coronavirus disease 2019), and it requires the Small Business Administration to expedite the loan approval process for such loans.
The fine for a conviction relating to a fraudulent claim for the payment or approval of such a loan shall be three times the amount of the loan.