Bill > HR5892

This bill establishes a loan program through the Small Business Administration (SBA) to help businesses affected by a government shutdown. During a shutdown period (defined as a partial or full lapse in government funding lasting up to 30 days after appropriations are enacted), eligible businesses can receive a "covered loan" to compensate for their estimated losses. These loans would have specific favorable terms: the loan amount would match the applicant's estimated shutdown-related losses, carry a maximum interest rate of 1%, and have a maximum repayment period of one year from the end of the shutdown. The term "eligible applicant" is based on existing SBA definitions for eligible loan recipients, and the loans would be made under existing SBA section 7(a) loan provisions. The bill's primary purpose is to provide financial support to small businesses that might suffer economic harm during periods of government funding interruptions, helping to keep these businesses operational during potentially challenging times.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/5892/all-info