,,ii  #aafth ,,congress  #b;d ,session  
,s4 #ceai  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,march #ah1    
#bjbj,mr4 ,coons 7for himself1 ,mr4     
,cardin1 ,ms4 ,klobuchar1 ,ms4          
,duckworth1 ,mr4 ,wyden1 ,mr4 ,markey1  
,mrs4 ,shaheen1 ,mr4 ,tester1 ,mrs4     
,gillibrand1 ,mr4 ,king1 ,ms4 ,hirono1  
and ,ms4 ,hassan7 introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,small   
,business and ,entrepreneurship  ,a     
,,bill  ,to authorize the ,administrator
 of the ,small ,business ,administration
 to subsidize payments on loans         
guaranteed under the #g7;a7 and #ejd    
loan programs or made using funds under 
the microloan program1 and for other    
purposes4  #a4 ,subsidy for certain loan
 payments  7a7 ,definitions ,in this    
section-- 7#a7 the terms ,administration
 and ,administrator mean the ,small     
,business ,administration and the       
,administrator thereof2 and  7#b7 the   
term covered loan means a loan that is--

 7,a7 guaranteed by the ,administration 
under-- 7i7 section #g7;a7 of the ,small
 ,business ,act 7#ae ,u4,s4,c4          
#fcf7;a771 including a loan made under  
the ,community ,advantage ,pilot        
,program of the ,administration2 or     
7ii7 title ,v of the ,small ,business   
,investment ,act of #aieh 7#ae ,u4,s4,c4
 #fie et seq472 or  7,b7 made by an     
intermediary to a small business concern
 7as defined in section #c of the ,small
 ,business ,act 7#ae ,u4,s4,c4 #fcb77   
using loans or grants received under    
section #g7m7 of the ,small ,business   
,act 7#ae ,u4,s4,c4 #fcf7m774  7b7      
,sense of ,congress ,it is the sense of 
,congress that-- 7#a7 all borrowers are 
adversely affected by ,,covid-#ai2  7#b7
 relief payments by the ,administration 
are appropriate for all borrowers2 and  
7#c7 in addition to the relief provided 
under this ,act1 the ,administration    
should encourage lenders to provide     
payment deferments1 when appropriate1   
and to extend the maturity of covered   

loans1 so as to avoid balloon payments  
or any requirement for increases in debt
 payments resulting from deferments     
provided by lenders during the period of
 the national emergency declared by the 
,president under the ,national          
,emergencies ,act 7#ej ,u4,s4,c4 #afja  
et seq47 with respect to the            
,coronavirus ,disease #bjai             
7,,covid-#ai74  7c7 ,principal and      
interest payments  7#a7 ,in general ,the
 ,administrator shall pay the principal1
 interest1 and any associated fees that 
are owed on a covered loan in a regular 
servicing status-- 7,a7 with respect to 
a covered loan made before the date of  
enactment of this ,act and not on       
deferment1 for the #f-month period      
beginning with the next payment due on  
the covered loan2  7,b7 with respect to 
a covered loan made before the date of  
enactment of this ,act and on deferment1
 for the #f-month period beginning with 
the next payment due on the covered loan
 after the deferment period2 and  7,c7  

with respect to a covered loan made     
during the period beginning on the date 
of enactment of this ,act and ending on 
the date that is #f months after such   
date of enactment1 for the #f-month     
period beginning with the first payment 
due on the covered loan4  7#b7 ,timing  
of payment ,the ,administrator shall    
begin making payments under paragraph   
7#a7 on a covered loan not later than   
#cj days after the date on which the    
first such payment is due4  7#c7        
,application of payment ,any payment    
made by the ,administrator under        
paragraph 7#a7 shall be applied to the  
covered loan such that the borrower is  
relieved of the obligation to pay that  
amount4  7d7 ,other requirements ,the   
,administrator shall-- 7#a7 communicate 
and coordinate with the ,federal        
,deposit ,insurance ,corporation1 the   
,office of the ,comptroller of the      
,currency1 and ,state bank regulators to
 encourage those entities to not require
 lenders to increase their reserves on  

account of receiving payments made by   
the ,administrator under subsection 7c72
  7#b7 waive statutory limits on maximum
 loan maturities for any covered loan   
durations where the lender provides a   
deferral and extends the maturity of    
covered loans during the #a-year period 
following the date of enactment of this 
,act2 and  7#c7 when necessary to       
provide more time because of the        
potential of higher volumes1 travel     
restrictions1 and the inability to      
access some properties during the       
,,covid-#ai pandemic1 extend lender site
 visit requirements to-- 7,a7 not more  
than #fj days 7which may be extended at 
the discretion of the ,administration7  
after the occurrence of an adverse      
event1 other than a payment default1    
causing a loan to be classified as in   
liquidation2 and  7,b7 not more than #ij
 days after a payment default4  7e7     
,rule of construction ,nothing in this  
section may be construed to limit the   
authority of the ,administrator to make 

payments pursuant to subsection 7c7 with
 respect to a covered loan solely       
because the covered loan has been sold  
in the secondary market4  7f7           
,authorization of appropriations ,there 
is authorized to be appropriated to the 
,administrator #af1hjj1jjj1jjj to carry 
out this section4