I 
116TH CONGRESS 
2D SESSION 
H. R. 6304 
To authorize the Administrator of the Small Business Administration to 
subsidize payments on loans guaranteed under the 7(a) and 504 loan 
programs or made using funds under the microloan program, and for 
other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 19, 2020 
Mr. DELGADO introduced the following bill; which was referred to the 
Committee on Small Business 
A BILL 
To authorize the Administrator of the Small Business Ad-
ministration to subsidize payments on loans guaranteed 
under the 7(a) and 504 loan programs or made using 
funds under the microloan program, and for other pur-
poses. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Small Business Repay-
ment Relief Act of 2020’’. 
SEC. 2. SUBSIDY FOR CERTAIN LOAN PAYMENTS. 
(a) DEFINITIONS.—In this section— 
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(1) the terms ‘‘Administration’’ and ‘‘Adminis-
trator’’ mean the Small Business Administration 
and the Administrator thereof; and 
(2) the term ‘‘covered loan’’ means a loan that 
is— 
(A) guaranteed by the Administration 
under— 
(i) section 7(a) of the Small Business 
Act (15 U.S.C. 636(a)), including a loan 
made under the Community Advantage 
Pilot Program of the Administration; or 
(ii) title V of the Small Business In-
vestment Act of 1958 (15 U.S.C. 695 et 
seq.); or 
(B) made by an intermediary to a small 
business concern (as defined in section 3 of the 
Small Business Act (15 U.S.C. 632)) using 
loans or grants received under section 7(m) of 
the Small Business Act (15 U.S.C. 636(m)). 
(b) SENSE OF CONGRESS.—It is the sense of Con-
gress that— 
(1) all borrowers are adversely affected by 
COVID–19; 
(2) relief payments by the Administration are 
appropriate for all borrowers; and 
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(3) in addition to the relief provided under this 
Act, the Administration should encourage lenders to 
provide payment deferments, when appropriate, and 
to extend the maturity of covered loans, so as to 
avoid balloon payments or any requirement for in-
creases in debt payments resulting from deferments 
provided by lenders during the period of the national 
emergency declared by the President under the Na-
tional Emergencies Act (50 U.S.C. 1601 et seq.) 
with respect to the Coronavirus Disease 2019 
(COVID–19). 
(c) PRINCIPAL AND INTEREST PAYMENTS.— 
(1) IN GENERAL.—The Administrator shall pay 
the principal, interest, and any associated fees that 
are owed on a covered loan in a regular servicing 
status— 
(A) with respect to a covered loan made 
before the date of enactment of this Act and 
not on deferment, for the 6-month period begin-
ning with the next payment due on the covered 
loan; 
(B) with respect to a covered loan made 
before the date of enactment of this Act and on 
deferment, for the 6-month period beginning 
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with the next payment due on the covered loan 
after the deferment period; and 
(C) with respect to a covered loan made 
during the period beginning on the date of en-
actment of this Act and ending on the date that 
is 6 months after such date of enactment, for 
the 6-month period beginning with the first 
payment due on the covered loan. 
(2) TIMING OF PAYMENT.—The Administrator 
shall begin making payments under paragraph (1) 
on a covered loan not later than 30 days after the 
date on which the first such payment is due. 
(3) APPLICATION OF PAYMENT.—Any payment 
made by the Administrator under paragraph (1) 
shall be applied to the covered loan such that the 
borrower is relieved of the obligation to pay that 
amount. 
(d) OTHER
REQUIREMENTS.—The Administrator 
shall— 
(1) communicate and coordinate with the Fed-
eral Deposit Insurance Corporation, the Office of the 
Comptroller of the Currency, and State bank regu-
lators to encourage those entities to not require 
lenders to increase their reserves on account of re-
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ceiving payments made by the Administrator under 
subsection (c); 
(2) 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 1-year period following 
the date of enactment of this Act; and 
(3) when necessary to provide more time be-
cause of the potential of higher volumes, travel re-
strictions, and the inability to access some properties 
during the COVID–19 pandemic, extend lender site 
visit requirements to— 
(A) not more than 60 days (which may be 
extended at the discretion of the Administra-
tion) after the occurrence of an adverse event, 
other than a payment default, causing a loan to 
be classified as in liquidation; and 
(B) not more than 90 days after a pay-
ment default. 
(e) RULE OF CONSTRUCTION.—Nothing in this sec-
tion may be construed to limit the authority of the Admin-
istrator to make payments pursuant to subsection (c) with 
respect to a covered loan solely because the covered loan 
has been sold in the secondary market. 
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(f) AUTHORIZATION OF APPROPRIATIONS.—There is 
authorized to be appropriated to the Administrator 
$16,800,000,000 to carry out this section. 
Æ 
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