Minority Business Resiliency Act of 2020

[AI summary unavailable — showing source text] Minority Business Resiliency Act of 2020 This bill permanently authorizes the Minority Business Development Agency and provides funding for the agency to assist minority businesses affected by COVID-19 (i.e., coronavirus disease 2019). The agency shall award grants to certain private, nonprofit organizations that (1) primarily provide services to minority businesses (e.g., education or making grants), and (2) are unable to pay financial obligations such as payroll. Such organizations must also be unable to engage in the same level of fundraising as the preceding year due to effects of COVID-19 . The agency must give priority to recipients that will use grant funds for purposes that include (1) providing paid sick leave to employees unable to work because of COVID-19, (2) making payroll payments to retain employees, or (3) repaying obligations they cannot satisfy because of revenue losses due to COVID-19. The agency must also conduct outreach to its business center network to provide guidance regarding other federal programs that are available to support minority businesses. The head of the agency shall be a member of the interagency Small Business Procurement Advisory Council. The …