Sec. 201. Small Business Credit Facility
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The Board of Governors of the Federal Reserve System shall establish a credit facility to provide loans to small businesses during the COVID–19 emergency. In this section: The term COVID–19 emergency means the period that begins upon the date of the enactment of this Act and ends on the date of the termination by the Federal Emergency Management Agency of the emergency declared on March 13, 2020, by the President under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 4121 et seq.) relating to the Coronavirus Disease 2019 (COVID–19) pandemic.
The term small business means— a small business concern (as defined under section 3 of the Small Business Act ( 15 U.S.C. 632 )); a family farm; an independent contractor; and any other class of businesses to which the Board of Governors determines loans would promote full employment and price stability.
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