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116-hr-6790116th Congress

Business Borrowers Protection Act

Sponsored By: Representative Sherman, Brad [D-CA-32]

Unknown

Summary

Business Borrowers Protection Act This bill prohibits a creditor from enforcing a loan covenant that requires the accelerated repayment of a loan if the borrower receives a loan under certain COVID-19 (i.e., coronavirus disease 2019) economic aid programs. Additionally, a creditor is prohibited from enforcing any loan covenant beginning on the date of enactment of this bill and ending one year after the termination of the COVID-19 national emergency.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Sherman, Brad [D-CA-32]

CA • D

Cosponsors

  • Rep. Waters, Maxine [D-CA-43]

    CA • D

    Sponsored 5/8/2020

Roll Call Votes

No roll call votes available for this bill.

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