Fair Chance for Small Business Relief Act

Bill: 116-hr-6894
Sponsor: full_name: Rep. Beatty, Joyce [D-OH-3]
Introduced: 2020-05-15
Policy area: Commerce
Subjects: Administrative law and regulatory procedures

Criminal investigation, prosecution, interrogation

Criminal justice information and records

Government lending and loan guarantees

Small Business Administration
Latest action: action_date: 2020-05-15
text: Referred to the House Committee on Small Business.

Summaries:
action_date: 2020-05-15
action_desc: Introduced in House
text: <p><b>Fair Chance for Small Business Relief Act</b></p> <p>This bill prohibits the Small Business Administration from declining to provide or guarantee certain small business loans solely on the basis that an applicant (1) is on probation or parole, (2) is presently subject to a means by which formal criminal charges are brought (e.g., indictment or arraignment), or (3) has been arrested or convicted of any crime. </p>

tv_txt: I 116th CONGRESS 2d Session H. R. 6894 IN THE HOUSE OF REPRESENTATIVES May 15, 2020 Mrs. Beatty (for herself, Mr. Kennedy , Ms. Norton , Mrs. Watson Coleman , Mr. Thompson of Mississippi , Mr. Hastings , Mr. Michael F. Doyle of Pennsylvania , Ms. Moore , Mr. Johnson of Georgia , Ms. Fudge , Ms. Bonamici , Ms. Wilson of Florida , Mr. Espaillat , Mr. Blumenauer , Mr. Carson of Indiana , Mr. Trone , and Ms. Haaland ) introduced the following bill; which was referred to the Committee on Small Business A BILL To amend the Small Business Act to ensure that applicants with a criminal record are eligible for certain loans, and for other purposes.

1. Short title This Act may be cited as the Fair Chance for Small Business Relief Act . 2. Eligibility for certain loans for applicants with a criminal record (a) General business loans Section 7(a)(1)(B) of the Small Business Act ( 15 U.S.C. 636(a)(1)(B) ) is amended to read as follows: (B) Criminal history The Administrator may not decline to provide a guarantee for a loan made under this subsection solely on the basis that an otherwise eligible applicant, or a person with any equity stake in the eligible applicant— (i) is on probation or on parole; (ii) is presently subject to an indictment, criminal information, arraignment, or other means by which formal criminal charges are brought in any jurisdiction; or (iii) has been arrested or convicted of any crime. . (b) Economic injury disaster loans The flush matter following subparagraph (E) of section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ) is amended by striking the period at the end and inserting the following: : Provided further, That for purposes of this paragraph, the Administrator may not decline to provide a loan or guarantee under this subsection solely on the basis that an otherwise eligible applicant, or a person with any equity stake in the eligible applicant, is on probation or on parole, is presently subject to an indictment, criminal information, arraignment, or other means by which formal criminal charges are brought in any jurisdiction, or has been arrested or convicted of any crime. .