October 31, 2025
Mr. Subramanyam introduced the following bill; which was referred to the Committee on Small Business
To require the Administrator of the Small Business Administration to carry out a loan program for eligible applicants during the shutdown, and for other purposes.
Section 1. Short title
This Act may be cited as the Keep Main Street Open Act
.
Sec. 2. Loans for eligible applicants during the shutdown
(a) In general
The Administrator of the Small Business Administration shall carry out a program under which an eligible applicant may receive a covered loan during a shutdown.
(b) Terms
A covered loan made under this section shall—
(1)
be in an amount equal to the losses estimated by the eligible applicant due to the shutdown;
(2)
bear a maximum interest rate of one percent; and
(3)
have a maximum maturity of one year from the date on which the shutdown is terminated.
(c) Definitions
In this Act:
(1) Eligible applicant
The term eligible applicant has the meaning given the term eligible recipient in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)).
(2) Covered loan
The term covered loan means a loan made under section 7(a) of the Small Business Act (15 U.S.C. 636(a)).
(3) Shutdown
The term shutdown means the period—
(A)
beginning on the first day on which there is a partial or full lapse in appropriations; and
(B)
ending on the date that is 30 days after the date of the enactment of appropriations.