I 
116TH CONGRESS 
2D SESSION 
H. R. 6333 
To establish a Small Business Financial Assistance Program to support 
small businesses during the COVID–19 emergency, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 23, 2020 
Mrs. BEATTY introduced the following bill; which was referred to the Com-
mittee on Small Business, and in addition to the Committee on Financial 
Services, for a period to be subsequently determined by the Speaker, in 
each case for consideration of such provisions as fall within the jurisdic-
tion of the committee concerned 
A BILL 
To establish a Small Business Financial Assistance Program 
to support small businesses during the COVID–19 emer-
gency, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SMALL BUSINESS FINANCIAL ASSISTANCE PRO-
GRAM. 
(a) IN GENERAL.—The Secretary of the Treasury 
shall establish a Small Business Financial Assistance Pro-
gram under which the Secretary shall provide loans and 
loan guarantees to small businesses. 
VerDate Sep 11 2014 
01:53 Apr 11, 2020
Jkt 099200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\H6333.IH
H6333
pamtmann on DSKBC07HB2PROD with BILLS
(b) APPLICATION.—In making loans and loan guar-
antees under this section, the Secretary shall— 
(1) provide a simple application process for bor-
rowers; and 
(2) establish clear and easy to understand un-
derwriting standards for such loans. 
(c) ZERO-INTEREST LOANS.—Loans made by or 
guaranteed by the Secretary under this section shall be 
zero-interest loans, if the small business receiving such 
loan does not involuntarily terminate any employee of the 
small business during the COVID–19 emergency. 
(d) ADVANCE.— 
(1) IN GENERAL.—Upon request from an appli-
cant for a loan under this section, the Secretary may 
provide to such applicant an advance, in cash, to 
such applicant. 
(2) AMOUNT.—An advance provided under 
paragraph (1) shall be in an amount equal to the 
revenue of the applicant for the period beginning 
January 1, 2020, and ending January 31, 2020. 
(3) PROCEDURES.— 
(A) REVIEW.—The Secretary shall have 1 
week from the receipt of a request for an ad-
vance under paragraph (1) to conduct a risk as-
VerDate Sep 11 2014 
01:53 Apr 11, 2020
Jkt 099200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6201
E:\BILLS\H6333.IH
H6333
pamtmann on DSKBC07HB2PROD with BILLS
sessment of the applicant to determine whether 
to approve or deny such request. 
(B) APPROVAL.—If the Secretary does not 
deny a request under subparagraph (A), the ad-
vance shall be directly deposited into the ac-
count identified by the applicant. 
(C) REMAINING FUNDS.—Not later than 4 
weeks after approving a request of an applicant 
under subparagraph (A), the Secretary shall 
disburse the remaining funds to such applicant. 
(e) 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 1 year after the date 
of such submission, the Secretary shall forgive the remain-
ing outstanding principal and interest on such loan or loan 
guarantee. 
(f) 
FUNDING.—The 
Secretary 
shall 
use 
$50,000,000,000 from the Exchange Stabilization Fund, 
without further appropriation, to carry out this section. 
(g) DEFINITIONS.—In this section: 
VerDate Sep 11 2014 
01:53 Apr 11, 2020
Jkt 099200
PO 00000
Frm 00003
Fmt 6652
Sfmt 6201
E:\BILLS\H6333.IH
H6333
pamtmann on DSKBC07HB2PROD with BILLS
(1) 
COVID–19 
EMERGENCY.—The 
term 
‘‘COVID–19 emergency’’ means the period that— 
(A) begins on the declaration of the emer-
gency declared on March 13, 2020, by the 
President under the Robert T. Stafford Dis-
aster Relief and Emergency Assistance Act (42 
U.S.C. 
4121 
et 
seq.) 
relating 
to 
the 
Coronavirus Disease 2019 (COVID–19) pan-
demic; and 
(B) ends on the termination by the Federal 
Emergency Management Agency of such emer-
gency. 
(2) SMALL BUSINESS.—The term ‘‘small busi-
ness’’ means— 
(A) a small business concern (as defined 
under section 3 of the Small Business Act (15 
U.S.C. 632); 
(B) a family farm; and 
(C) an independent contractor. 
Æ 
VerDate Sep 11 2014 
01:53 Apr 11, 2020
Jkt 099200
PO 00000
Frm 00004
Fmt 6652
Sfmt 6301
E:\BILLS\H6333.IH
H6333
pamtmann on DSKBC07HB2PROD with BILLS