Amends the Small Business Act to specify the interest rates for disaster loans made by the Small Business Administration (SBA) to small businesses. Prohibits SBA loans in excess of: (1) $300,000 for each disaster where the borrower is an individual; and (2) $500,000 for each disaster where the borrower is not an individual. Permits the SBA to waive the $500,000 limitation if the loan applicant is a major source of employment in an area suffering a disaster.
Introduced in House
Introduced in House
Referred to House Committee on Small Business.
Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.
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