Amends the Small Business Act to authorize the Small Business Administration to make loans to small businesses in areas of economic dislocation resulting from: (1) drastic fluctuation in the value of the currency; and (2) adjustments in the regulation of the monetary system of a country contiguous to the United States. Requires that such economic dislocation be of such magnitude that without the benefit of the loans under this Act a significant number of otherwise financially sound small businesses in those areas would become insolvent or would be unable to return quickly to their former level of operation. Limits each loan to a maximum of $100,000. Prohibits the use of loan proceeds to reduce other loans. Permits the deferral of loan repayment for one year.
Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.
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.
Subcommittee Hearings Held.
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