H. Res. 637, 117th Congress — Financial Institutions Provided Copious and Necessary Assistance
Summary
House resolution H. Res. 637 of the 117th Congress, 1st Session, was submitted September 14, 2021, expressing the sense of Congress that financial institutions provided copious and necessary assistance as an intermediary between the Small Business Administration and affected businesses during the COVID-19 pandemic. Keller submitted it, and it was referred to the Committee on Small Business. The preamble states that between April 3, 2020, and May 31, 2021, 5,467 financial institutions distributed 11,823,594 loans totaling $799,832,866,520 through the Paycheck Protection Program. The resolved clause finds that the program and the collaboration of the Small Business Administration and private financial institutions, among others, kept millions of businesses open.
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“H. Res. 637, 117th Congress — Financial Institutions Provided Copious and Necessary Assistance.”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/bills-bills-117hres637ih-bills-117hres637ih/
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IV
117TH CONGRESS
1ST SESSION
H. RES. 637
Expressing the sense of Congress that financial institutions provided copious
and necessary assistance as an intermediary between the Small Business
Administration and affected businesses during the COVID–19 pandemic.
IN THE HOUSE OF REPRESENTATIVES
SEPTEMBER 14, 2021
Mr. KELLER submitted the following resolution; which was referred to the
Committee on Small Business
RESOLUTION
Expressing the sense of Congress that financial institutions
provided copious and necessary assistance as an inter-
mediary between the Small Business Administration and
affected businesses during the COVID–19 pandemic.
Whereas, between April 3, 2020, and May 31, 2021, 5,467
financial institutions distributed 11,823,594 loans total-
ing $799,832,866,520 through the Paycheck Protection
Program of the Small Business Administration;
Whereas, through public-private collaboration, essential emer-
gency funding kept the most at-risk businesses afloat
during unprecedented and unpredictable economic activ-
ity; and
kjohnson on DSK79L0C42PROD with BILLS
Whereas, between March 27, 2020, and August 8, 2020,
lenders of all sizes played a significant role, and those
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2
with less than $10,000,000,000 in assets played an out-
sized role in facilitating the survival of small businesses
and the jobs they support, and this group of 5,338 lend-
ers facilitated 2,745,204 loans totaling $233,776,205,568
and distributed 45 percent of funding made available
through the CARES Act (Public Law 116–136) during
this period: Now, therefore, be it
1 Resolved, That the House of Representatives finds
2 that the Paycheck Protection Program and the collabora-
3 tion of the Small Business Administration, the Depart-
4 ment of the Treasury, and private financial institutions
5 kept millions of businesses open throughout the economic
6 fallout resulting from the COVID–19 pandemic.
Æ
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•HRES 637 IH
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