Small Business Relief Guaranteed Loan Program Act of 2020 This bill requires the Small Business Administration (SBA) to carry out a temporary program to guarantee loans made by banks or other lenders to small businesses affected by COVID-19 (i.e., coronavirus disease 2019). Such loans shall be zero-interest, fee-free loans, and up to 50% of the principal on such loans shall be forgiven if a recipient demonstrates that its employment has not decreased between December 31, 2019, and December 31, 2021. In addition to permitted uses of SBA loans, such guaranteed loans may also be used for purposes such as providing employees of the borrower with (1) benefits and wages, (2) technology for shifting to telework or remote work, or (3) necessary items specified by a public health authority to mitigate the spread of COVID-19.