A bill to improve the disaster loan program of the Small Business Administration, and for other purposes.
Private Disaster Loans Act of 2007 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to guarantee timely payment of principal and interest on any loan issued by a qualified private lender to an eligible small business located in a disaster area. Authorizes the Administrator to establish an online application process for such loans.
Authorizes the Administrator to guarantee up to 85 percent of such a loan. Sets the maximum amount of such a loan at $2 million.
Referred to the House Committee on Small Business.
Introduced in Senate
Sponsor introductory remarks on measure. (CR S1976-1977)
Read twice and referred to the Committee on Small Business and Entrepreneurship. (text of measure as introduced: CR S1977)
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line