S.1853 - Small Business Disaster Relief Act of 2017115th Congress (2017-2018)
|Sponsor:||Sen. Nelson, Bill [D-FL] (Introduced 09/25/2017)|
|Committees:||Senate - Small Business and Entrepreneurship|
|Latest Action:||Senate - 09/25/2017 Read twice and referred to the Committee on Small Business and Entrepreneurship. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: S.1853 — 115th Congress (2017-2018)All Information (Except Text)
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.