To require the Administrator of the Small Business Administration to modify the interest rate for eligible loans made to borrowers experiencing short-term financial challenges, and for other purposes.
EIDL Relief Act
This bill provides temporary relief for certain borrowers of Economic Injury Disaster Loans (EIDL) that were made in response to the COVID-19 emergency. Specifically, for one year, the Small Business Administration must reduce the interest rate and limit the monthly payment due for borrowers of these loans experiencing short-term financial challenges.
Introduced in House
Introduced in House
Referred to the House Committee on Small Business.
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