It has cleared committee and can be brought up at any time, though no date is set.
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Why This Matters
This bill requires small businesses to keep paying back loans they received during the COVID-19 pandemic. It also extends oversight to ensure proper use of these funds.
If you own a small business with a COVID-19 relief loan, you must continue making payments without pause.
Who this affects
Small business owners
What changes is this bill making?
1This bill stops the suspension of loan collections for small businesses affected by COVID-19.
2It applies to loans guaranteed by the Small Business Administration.
3The bill ensures that businesses must continue to repay their COVID-19 relief loans.
4It also extends the oversight of pandemic recovery funds until 2030.
5The bill aims to prevent improper payments related to these loans.
