Summary: S.1853 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for S.1853. Bill summaries are authored by CRS.

Shown Here:
Introduced in Senate (09/25/2017)

Small Business Disaster Relief Act of 2017

This bill amends the Small Business Act to authorize the Small Business Administration (SBA) to exceed the $100,000 limit on small business development center assistance grants to accommodate extraordinary occurrences having a catastrophic impact on small business concerns in a community.

The bill amends the Disaster Relief Act of 1970 to permit: (1) the use of SBA and Farm Service Agency (formerly, Farmers Home Administration) loans for enterprises that are vital to recovery efforts in a disaster area (including debris removal services, manufactured housing, gasoline, telecommunications, or building materials); and (2) such loans to waive any required evaluation of creditworthiness in exchange for a fee set by the SBA or the Farm Service Agency.