COVID-19 Small Business Recovery Grants Act
This bill establishes within the Small Business Administration (SBA) the Office of Coronavirus COVID-19 Small Business Recovery Grants to compensate small businesses, located in a qualified disaster area, for substantial economic injury they suffered resulting from COVID-19 (i.e., coronavirus disease 2019) beginning December 1, 2019, and ending December 31, 2021. This compensation (1) excludes interest on the amount of the payment before the settlement or payment of a claim or any punitive or noncompensatory damages; and (2) is limited to $100,000, except in cases where the SBA determines that a greater amount up to $250,000 is appropriate.
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