Washington, D.C.—Today the U.S. House of Representatives passed H.R. 6074, the Coronavirus Preparedness and Response Supplemental Appropriations Act, which enables the Small Business Administration to make an estimated $7 billion in low-cost loans to affected small businesses.
“For many American small businesses, the outbreak of coronavirus means fewer customers, gaps in supply chains, and workforce reductions,” said House Small Business Committee Chairwoman Nydia M. Velázquez (D-NY). “That is why, today, the House acted to open critical economic injury loans to small businesses dealing with the consequences of the coronavirus outbreak. These low-interest loans will inject much-needed capital into Main Street businesses as they recover from the hardship of operating during a public health crisis.”