IN THE SENATE OF THE UNITED STATES
May 20, 2020
Ms. Duckworth (for herself, Mr. Rubio, Mr. Coons, Mr. Risch, Mrs. Blackburn, Mr. Cardin, and Mrs. Shaheen) introduced the following bill; which was read twice, considered, read the third time, and passed
To modify the amount authorized for commitments for 7(a) loans, and for other purposes.
This Act may be cited as the
Small Business Lending Continuity Act of 2020.
Commitments for 7(a) loans
Notwithstanding any other provision of law, the amounts authorized for commitments for general business loans authorized under section 7(a) of the Small Business Act (15 U.S.C. 636(a)) under the heading
business loans program account under the heading
small business administration under title V of the Consolidated Appropriations Act, 2020 (Public Law 116–93; 133 Stat. 2475) shall apply with respect to loans made under such section 7(a), other than loans made under paragraph (36) of such section 7(a), on and after the date of enactment of this Act.