Proposal:Coronavirus Credit Expansion Act

This proposal is archived and closed to further debate. It was introduced in the 116th Congress, which has concluded, and the bill was not enacted into law.

Bill	S 3524
Type of Legislation	Senate Bill
Congress	116
Source	View original on Congress.gov

Geographic Scope

National

Description

Coronavirus Credit Expansion Act

This bill increases the maximum loan amount for a small business disaster loan made in response to COVID-19 (i.e., coronavirus disease 2019), and it requires the Small Business Administration to expedite the loan approval process for such loans.

The fine for a conviction relating to a fraudulent claim for the payment or approval of such a loan shall be three times the amount of the loan.

Bill Title

Coronavirus Credit Expansion Act

Linked Goals

• Goal:Promote General Welfare

Steps

• 2020-03-18: Read twice and referred to the Committee on Small Business and Entrepreneurship.
• 2020-03-18: Introduced in Senate

Projected Outcome

A more informed proposal or public response aligned with the Promote General Welfare goal.