,i  #aafth ,,congress  #b;d ,session    
,h4 ,r4 #fccc  ,,in ,,the ,,house ,,of  
,,representatives  ,march #bc1          
#bjbj,mrs4 ,beatty introduced the       
following bill2 which was referred to   
the ,committee on ,small ,business1 and 
in addition to the ,committee on        
,financial ,services1 for a period to be
 subsequently determined by the         
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to establish a ,small       
,business ,financial ,assistance        
,program to support small businesses    
during the ,,covid-#ai emergency1 and   
for other purposes4  #a4 ,small         
,business ,financial ,assistance        
,program  7a7 ,in general ,the          
,secretary of the ,treasury shall       
establish a ,small ,business ,financial 
,assistance ,program under which the    
,secretary shall provide loans and loan 
guarantees to small businesses4  7b7    
,application ,in making loans and loan  

guarantees under this section1 the      
,secretary shall-- 7#a7 provide a simple
 application process for borrowers2 and 
7#b7 establish clear and easy to        
understand underwriting standards for   
such loans4  7c7 ,zero-,interest loans  
,loans made by or guaranteed by the     
,secretary under this section shall be  
zero-interest loans1 if the small       
business receiving such loan does not   
involuntarily terminate any employee of 
the small business during the           
,,covid-#ai emergency4  7d7 ,advance    
7#a7 ,in general ,upon request from an  
applicant for a loan under this section1
 the ,secretary may provide to such     
applicant an advance1 in cash1 to such  
applicant4  7#b7 ,amount ,an advance    
provided under paragraph 7#a7 shall be  
in an amount equal to the revenue of the
 applicant for the period beginning     
,january #a1 #bjbj1 and ending ,january 
#ca1 #bjbj4  7#c7 ,procedures  7,a7     
,review ,the ,secretary shall have #a   
week from the receipt of a request for  

an advance under paragraph 7#a7 to      
conduct a risk assessment of the        
applicant to determine whether to       
approve or deny such request4  7,b7     
,approval ,if the ,secretary does not   
deny a request under subparagraph 7,a71 
the advance shall be directly deposited 
into the account identified by the      
applicant4  7,c7 ,remaining funds ,not  
later than #d weeks after approving a   
request of an applicant under           
subparagraph 7,a71 the ,secretary shall 
disburse the remaining funds to such    
applicant4  7e7 ,forgiveness ,if a small
 business that receives a loan or loan  
guarantee under this section            
demonstrates to the ,secretary that the 
number of full-time employees of such   
small business on the date such small   
business submitted an application under 
this section is greater than or equal to
 the number of full-time employees of   
such small business on the date that is 
#a year after the date of such          
submission1 the ,secretary shall forgive

 the remaining outstanding principal and
 interest on such loan or loan          
guarantee4  7f7 ,funding ,the ,secretary
 shall use #ej1jjj1jjj1jjj from the     
,exchange ,stabilization ,fund1 without 
further appropriation1 to carry out this
 section4  7g7 ,definitions ,in this    
section3 7#a7 ,,covid-#ai emergency ,the
 term ,,covid-#ai emergency means the   
period that-- 7,a7 begins on the        
declaration of the emergency declared on
 ,march #ac1 #bjbj1 by the ,president   
under the ,robert ,t4 ,stafford         
,disaster ,relief and ,emergency        
,assistance ,act 7#db ,u4,s4,c4 #daba et
 seq47 relating to the ,coronavirus     
,disease #bjai 7,,covid-#ai7 pandemic2  
and  7,b7 ends on the termination by the
 ,federal ,emergency ,management ,agency
 of such emergency4  7#b7 ,small        
business ,the term small business       
means-- 7,a7 a small business concern   
7as defined under section #c of the     
,small ,business ,act 7#ae ,u4,s4,c4    
#fcb72  7,b7 a family farm2 and  7,c7 an

 independent contractor4