S. 174 · 117th Congress
Small Business Access to Recovery Capital Act
- Stage
- In committee
- Sponsor
- Marco Rubio
- Introduced
- 2021-02-02
- Latest action
- 2021-02-02 · Introduced in Senate
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.