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II
117TH CONGRESS
1ST SESSION
S. 1690
To provide direct appropriations for processing applications for the paycheck
protection program, and for other purposes.
IN THE SENATE OF THE UNITED STATES
MAY 18, 2021
Ms. ROSEN introduced the following bill; which was read twice and referred
to the Committee on Appropriations
A BILL
To provide direct appropriations for processing applications
for the paycheck protection program, and for other purposes.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Keeping Our Promise
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to Small Businesses Act’’.
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SEC. 2. APPROPRIATIONS FOR PAYCHECK PROTECTION
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PROGRAM.
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(a) APPROPRIATIONS.—There is appropriated, out of
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amounts in the Treasury not otherwise appropriated, to
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remain available until expended, for additional amounts—
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•S 1690 IS
(1) such sums as may be necessary under the
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heading ‘‘Small Business Administration—Business
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Loans Program Account, CARES Act’’ for the cost
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of processing applications for loans under paragraph
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(36) or (37) of section 7(a) of the Small Business
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Act (15 U.S.C. 636(a)) that were submitted on or
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before May 4, 2021; and
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(2) $5,000,000,000 under the heading ‘‘Small
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Business Administration—Business Loans Program
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Account, CARES Act’’ for the cost of guaranteed
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loans under paragraph (36) or (37) of section 7(a)
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of the Small Business Act (15 U.S.C. 636(a)) pro-
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vided to eligible entities that—
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(A) submit an application for such a loan
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on or before May 31, 2021;
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(B) have not more than 100 employees;
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and
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(C) are located in a State that, as of
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March 1, 2021, had an unemployment rate of
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not less than 6 percent.
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(b) PREFERENCE.—In guaranteeing loans using
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amounts appropriated under subsection (a)(2), the Admin-
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istrator of the Small Business Administration shall give
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•S 1690 IS
a preference to eligible entities that are women-, minority-
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, or veteran-owned.
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