ABSTRACT

Supplemental Appropriations: SBA Disaster Loan Account [June 22, 2020]   [open pdf - 727KB]

From the Document: "In response to the Coronavirus Disease 2019 (COVID-19) pandemic's widespread adverse economic impact on the national economy, Congress made COVID-19-related economy injury an eligible expense for Small Business Administration (SBA) Economic Injury Disaster Loans (EIDL). Congress also provided SBA an additional $20 million for SBA disaster assistance administrative expenses (P.L. 116- 123, Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020). At that time, the SBA had about $1.1 billion in its disaster loan credit subsidy account to support about $7 billion in disaster loans. These funds are available until expended and are used to pay for disaster loan defaults and related expenses."

Report Number:
CRS Insight, IN11433
Author:
Publisher:
Date:
2020-06-22
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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