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Small Business Support: Funds for Paycheck Protection Program

This act provides additional funds for processing Paycheck Protection Program (PPP) loan applications and for guaranteed loans to small businesses. This aims to support businesses in maintaining jobs and financial stability, especially those with fewer employees and located in states with high unemployment.
Key points
Additional money for processing Paycheck Protection Program (PPP) loan applications submitted by May 4, 2021.
5 billion dollars for guaranteed loans to small businesses (up to 100 employees) in states with high unemployment (over 6% as of March 1, 2021), with preference for women-, minority-, or veteran-owned businesses.
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Status:
Expired
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Additional Information
Print number: 117_S_1690
Sponsor: Sen. Rosen, Jacky [D-NV]
Process start date: 2021-05-18
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Keeping Our Promise to Small Businesses Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1690.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-05-18.

What are the main provisions?

Key points include:

  • Additional money for processing Paycheck Protection Program (PPP) loan applications submitted by May 4, 2021.
  • 5 billion dollars for guaranteed loans to small businesses (up to 100 employees) in states with high unemployment (over 6% as of March 1, 2021), with preference for women-, minority-, or veteran-owned businesses.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Rosen, Jacky [D-NV].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Labor Benefits