Establishes an economic injury loan program under the Small Business Act by authorizing the Small Business Administration to make direct or participation loans to small businesses suffering economic injuries as the result of public utility service disruption of substantial scope and duration and occurred on or after January 1, 1975. Sets the rate of interest at 6 3/4 percent and for a 10 year term.
Requires that the disruption in service be within a geographic area and affect a majority of the business concerns in that area for at least three days. Requires that the loan applicant demonstrate that the loan is necessary for his preservation or reestablishment.
Introduced in House
Introduced in House
Referred to House Committee on Small Business.
Reported to House from the Committee on Small Business with amendment, H. Rept. 94-288.
Reported to House from the Committee on Small Business with amendment, H. Rept. 94-288.
Measure called up under motion to suspend rules and pass in House.
Measure considered in House.
Passed/agreed to in House: Measure passed House, amended.
Measure passed House, amended.
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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