HR 5408 · 97th Congress · Commerce
A bill to amend the Small Business Act with respect to disaster loan programs.
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.(1982-02-09)
Plain Language Summary
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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.…
Summarized by Claude AI · Non-partisan · For informational purposes only