A bill to modify terms related to the economic injury disaster loan program of the Small Business Administration for applicants affected by COVID-19, and for other purposes.
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.
Referred to the House Committee on Small Business.
Introduced in Senate
Read twice and referred to the Committee on Small Business and Entrepreneurship.
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