Small Business Emergency Drought Disaster Loan Act

[AI summary unavailable — showing source text] Small Business Emergency Drought Disaster Loan Act - Authorizes the Small Business Administration to provide emergency drought assistance loans, at five percent interest per annum for a period up to 30 years, to assist small business concerns to overcome the effects of actual or prospective substantial economic injury resulting from the 1976-1977 drought. Requires an actual or expected decrease in business activity of at least 20 percent below normal levels as a condition of eligibility. Applies the provisions of this Act to drought disaster areas currently designated under existing laws and to any area newly designated as an emergency drought impact area by the Administrator of the Small Business Administration.…