Expressing the sense of Congress that financial institutions provided copious and necessary assistance as an intermediary between the Small Business Administration and affected businesses during the COVID-19 pandemic.

Bill 117 H.Res. 637, titled "Expressing the sense of Congress that financial institutions provided copious and necessary assistance as an intermediary between the Small Business Administration and affected businesses during the COVID-19 pandemic," acknowledges the crucial role that financial institutions played in helping businesses navigate the challenges brought on by the pandemic.

The bill recognizes that during the COVID-19 pandemic, many businesses faced unprecedented financial hardships and uncertainty. In response, the Small Business Administration (SBA) implemented various relief programs to provide financial assistance to struggling businesses. However, the SBA alone could not efficiently distribute these funds to all the businesses in need.

Financial institutions stepped in as intermediaries between the SBA and affected businesses, playing a vital role in facilitating the distribution of financial assistance. These institutions helped businesses navigate the application process, access funding, and ensure compliance with program requirements. Their efforts were instrumental in ensuring that businesses received the support they needed to survive the economic challenges posed by the pandemic. The bill emphasizes the importance of recognizing and appreciating the efforts of financial institutions in supporting businesses during this difficult time. It highlights the collaborative efforts between the SBA and financial institutions in providing much-needed assistance to businesses, ultimately helping to mitigate the economic impact of the pandemic. Overall, Bill 117 H.Res. 637 serves as a commendation of the role played by financial institutions in assisting businesses during the COVID-19 pandemic and underscores the importance of their continued support in times of crisis.