H.R. 5892

119 HR 5892 IH: Keep Main Street Open Act
 U.S. House of Representatives
 2025-10-31
 text/xml
 EN
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 I  119th CONGRESS  1st Session  H. R. 5892  IN THE HOUSE OF REPRESENTATIVES   October 31, 2025   Mr. Subramanyam  introduced the following bill; which was referred to the  Committee on Small Business    A BILL
To require the Administrator of the Small Business Administration to carry out a loan program for eligible applicants during the shutdown, and for other purposes.
1.
Short title
This Act may be cited as the   Keep Main Street Open Act  .
2.
Loans for eligible applicants during the shutdown
(a)
In general
The Administrator of the Small Business Administration shall carry out a program under which an eligible applicant may receive a covered loan during a shutdown.
(b)
Terms
A covered loan made under this section shall—
(1)
be in an amount equal to the losses estimated by the eligible applicant due to the shutdown;
(2)
bear a maximum interest rate of one percent; and
(3)
have a maximum maturity of one year from the date on which the shutdown is terminated.
(c)
Definitions
In this Act:
(1)
Eligible applicant
The term  eligible applicant  has the meaning given the term  eligible recipient  in section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ).
(2)
Covered loan
The term  covered loan  means a loan made under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ).
(3)
Shutdown
The term  shutdown  means the period—
(A)
beginning on the first day on which there is a partial or full lapse in appropriations; and
(B)
ending on the date that is 30 days after the date of the enactment of appropriations.