Summary: H.R.620 — 98th Congress (1983-1984)All Information (Except Text)

There is one summary for H.R.620. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (01/06/1983)

Amends the Small Business Act to authorize the Small Business Administration to make loans to small businesses in areas of economic dislocation resulting from drastic fluctuation in the value of the currency of a country contiguous to the United States and adjustments in the regulation of its monetary system. 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.