,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #fcda  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #bc1 #bjbj,ms4   
,craig introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,small        
,bus9ess  ,a ,,bill  ,to e/abli% a      
bus9ess /abilization gu>ante$ loan      
program & au?ority to e/abli% a second>y
 m>ket 9 ! ,small ,bus9ess              
,adm9i/ration1 & = o!r purposes4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,small ,bus9ess ,relief ,gu>ante$ ,loan 
,program ,act ( #bjbj4  #b4 ,bus9ess    
/abilization gu>ante$ loan program  7a7 
,9 g5]al ,! ,adm9i/rator ( ! ,small     
,bus9ess ,adm9i/ration %all c>ry out a  
program to gu>antee loans to eligible   
borr[]s1 made by banks or o!r l5d]s4    
7b7 ,eligible borr[] def9$ ,9 ?is       
section1 ! t]m eligible borr[] means a  
p]son :o-- 7#a7 is a small bus9ess      
conc]n z def9$ "u section #c ( ! ,small 
,bus9ess ,act 7#ae ,u4,s4,c4 #fcb72 &   
7#b7 is locat$ 9 a ,/ate or t]ritory ( !
 ,unit$ ,/ates ) a confirm$ or presum$  

positive case ( ,,covid-#ai4  7c7 ,use (
 funds ,9 addition to ! use ( proce$s   
curr5tly p]mitt$ "u section #g7;a7 ( !  
,small ,bus9ess ,act 7#ae ,u4,s4,c4     
#fcf7;a771 loans gu>ante$ "u ?is section
 may be us$ = ! foll[+ purposes3 7#a7   
,to make p]iodic paym5ts ( pr9cipal &   
int]e/1 = a p]iod n to exce$ #ab mon?s1 
on a loan or a loan gu>antee made to an 
eligible borr[] t meets ! eligibility   
/&>ds ( su* section #g7;a74  7#b7 ,to   
provide b5efits to employees ( !        
eligible borr[]1 includ+ gr\p life      
insurance1 disability insurance1 sick   
leave1 annual leave1 educational        
b5efits1 paid family leave1 or retirem5t
 b5efits 7includ+ a p5sion plan or      
,,ira74  7#c7 ,to pay wages to employees
 ( ! eligible borr[]1 & relat$ ,/ate &  
,f$]al payroll taxes1 except t loan     
proce$s may n be us$ to pay am\nts "u a 
g>ni%m5t ord] issu$ by an ag5cy ( a     
,/ate or ,f$]al ,gov]nm5t4  7#d7 ,to    
provide te*nology1 h>dw>e1 or s(tw>e = a
 %ift to telework or remote "w =        

employees ( ! eligible borr[] to enable 
cont9uity ( op]ations4  7#e7 ,to pay r5t
 or utilities due or ow$ on any place ( 
bus9ess ( ! eligible borr[]4  7#f7 ,to  
ref9ance an exi/+ debt 7includ+ int]e/7 
9 an am\nt n to exce$ #ej p]c5t ( !     
am\nt ( ! debt4  7#g7 ,to provide floor 
plan f9anc+ or o!r revolv+ l9e ( cr$it4 
7#h7 ,to pay pa/-due ,f$]al1 ,/ate1 or  
local payroll taxes1 sales taxes1 or o!r
 simil> taxes t are requir$ to be       
collect$ by ! eligible borr[] & held 9  
tru/ on behalf ( a ,f$]al1 ,/ate1 or    
local gov]nm5t entity4  7#i7 ,to provide
 employees & patrons ( ! eligible borr[]
 ) ! necess>y items specifi$ by any     
public heal? au?ority to mitigate !     
spread ( ,,covid-#ai4  7d7 ,loan t]ms   
7#a7 ,am\nt ,loans gu>ante$ "u ?is      
section may n exce$ #b1ejj1jjj4  7#b7   
,disbursem5t ,) respect to a loan       
gu>ante$ "u ?is section1 loan am\nts    
%all be disburs$ z foll[s3 7,a7 ,n less 
?an #aj p]c5t1 b n m ?an #bj p]c5t1 (   
su* am\nt %all be disburs$ n lat] ?an #e

 cal5d> days aft] su* approval4  7,b7 ,n
 lat] ?an #ad cal5d> days aft] su*      
approval1 any rema9+ am\nts %all be     
disburs$4  7#c7 ,gu>antee ,loans        
gu>ante$ "u ?is section %all be #ajj    
p]c5t gu>ante$ by ! ,adm9i/rator ( !    
,small ,bus9ess ,adm9i/ration4  7#d7    
,int]e/ ,! ,adm9i/rator & p>ticipat+    
l5d]s %all n *>ge int]e/ on any loan    
gu>ante$ "u ?is section4  7e7 ,repaym5t 
,repaym5t = loans gu>ante$ "u ?is       
section-- 7#a7 %all be amortiz$ ov] a   
p]iod ( "t n to exce$ #aj ye>s2 &  7#b7 
may n beg9 until #ab mon?s 7:i* may be  
ext5d$ by ! ,adm9i/rator ( ! ,small     
,bus9ess ,adm9i/ration7 aft] ! f9al     
disbursem5t ( loan am\nts pursuant to   
subsection 7d77#b74  7f7 ,collat]al ,a  
l5d] may n decl9e to make a loan        
describ$ "u ?is section to an o!rwise   
eligible borr[] due solely to inadequate
 collat]al4 ,! ,adm9i/rator %all n      
decl9e to honor a gu>antee on a loan    
made by a l5d] t is gu>ante$ "u ?is     
section solely due to inadequate        

collat]al4 ,l5d]s %all accept any       
available collat]al1 includ+ subord9at$ 
li5s1 to secure a loan gu>ante$ "u ?is  
section4  7g7 ,fees ,nei!r !            
,adm9i/rator ( ! ,small ,bus9ess        
,adm9i/ration nor any l5d] may *>ge any 
fees to an applicant 9 connection ) a   
loan gu>ante$ "u ?is section4  7h7      
,=giv5ess ,if an eligible borr[] t      
receives loan proce$s "u ?is section    
demon/rates to ! ,adm9i/rator t ! numb] 
( employees ( su* eligible borr[] on    
,decemb] #ca1 #bjba1 is great] ?an or   
equal to ! numb] ( employees ( su*      
eligible borr[] on ,decemb] #ca1 #bjai1 
! ,adm9i/rator %all pay to ! l5d] ( su* 
eligible borr[]'s loan n m ?an #ej p]c5t
 ( ! out/&+ pr9cipal on su* loan4  7i7  
,sunset  7#a7 ,9 g5]al ,except z provid$
 9 p>agraph 7#b71 ! ,adm9i/rator ( !    
,small ,bus9ess ,adm9i/ration may n     
gu>antee a loan "u ?is section aft]     
,septemb] #cj1 #bjbb4  7#b7 ,ext5sion ,!
 ,adm9i/rator may ext5d au?ority to     
gu>antee loans "u ?is section by an     

additional #f mon?s by notify+          
,congress1 9 writ+1 )9 #aj cal5d> days  
be=e any ext5sion4  7j7 ,em]g5cy        
rulemak+ au?ority  7#a7 ,9 g5]al ,)9 #ae
 days aft] ! date ( ! enactm5t ( ?is    
section1 ! ,adm9i/rator ( ! ,small      
,bus9ess ,adm9i/ration-- 7,a7 %all issue
 rules to c>ry out ?is section2 &  7,b7 
may issue rules to e/abli% a second>y   
m>ket = loans made "u ?is section4  7#b7
 ,notice ,! notice requirem5ts ( section
 #eec7;b7 ( title #e1 ,unit$ ,/ates     
,code1 %all n apply to any issuance (   
rules "u p>agraph 7#a74  7k7            
,au?orization ( appropriations ,!re is  
au?oriz$ to be appropriat$              
#ajj1jjj1jjj1jjj to ! ,adm9i/rator ( !  
,small ,bus9ess ,adm9i/ration to c>ry   
out ?is section4