COVID–19 Relief for Small Businesses Act of 2020

[AI summary unavailable — showing source text] COVID-19 Relief for Small Businesses Act of 2020 This bill establishes measures to support small businesses impacted by COVID-19 (i.e., coronavirus disease 2019). Specifically, the SBA must temporarily make or guarantee loans for specified uses to small businesses in a state or territory with a case of COVID-19, up to 50% of which may be forgiven; pay the principal, interest, and associated fees owed on certain small business loans for a six-month period; provide grants to small businesses suffering substantial economic injury because of COVID-19; provide grants to small business development centers, women's business centers, and chapters of the Service Corps of Retired Executives for specified purposes; reimburse grant recipients under the State Trade Expansion Program for an amount of losses related to COVID-19; provide SBA resources and services in the 10 most commonly spoken languages, other than English, in the United States, including Mandarin, Cantonese, Japanese, and Korean. In addition, the SBA may make economic injury disaster loans to small businesses in response to COVID-19 and waive certain requirements on such loans. The bill also temporarily increases guarantee amoun…