H.R. 6268: SBA Business Stabilization Direct Loan Program Act of 2020

116th Congress · introduced 2020-03-12 · Commerce · Latest: Referred to the House Committee on Small Business.

federal

Follow this bill, step by step

Where it came from: introduced 2020-03-12 · official record
Who proposed it: Rep. Velazquez, Nydia M. [D-NY-7] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Referred to the House Committee on Small Business. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

SBA Business Stabilization Direct Loan Program Act of 2020

Plain summary

SBA Business Stabilization Direct Loan Program Act of 2020 This bill requires the Small Business Administration (SBA) to temporarily make loans directly to small businesses located in a U.S. state or territory with a confirmed or presumed positive case of COVID-19 (i.e., coronavirus disease 2019). A recipient of such a loan may use the funds to, among other things (1) make periodic payments of principal and interest on outstanding SBA loans; (2) provide benefits to employees such as disability insurance, sick leave, and paid family leave; (3) pay wages to employees; or (4) provide employees and patrons with the necessary items specified by a public health authority to mitigate the spread of the coronavirus. The SBA shall accept any available collateral to secure such a loan and shall not decline to make a loan to an otherwise eligible borrower due solely to inadequate collateral.

Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

SBA Business Stabilization Direct Loan Program Act of 2020

Source: Congressional Research Service summary (Introduced in House)

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The strongest published arguments

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Rep. Velazquez, Nydia M. [D-NY-7] · 8 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Dwight Evans (D-PA), Chrissy Houlahan (D-PA), Bradley Scott Schneider (D-IL), Jason Crow (D-CO), Judy Chu (D-CA), Adriano Espaillat (D-NY), Andy Kim (D-NJ)

Sponsor's campaign money: Rep. Velazquez, Nydia M. [D-NY-7] reported raising $180,257 (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in House)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-116hr6268.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/116/hr>

Record fed-us-cong116-hr6268 · catalog fed-us-congress-bills-cong116 · updated 2026-11-15 by psicol fed-bills-cong116