H.R. 4148 · 115th Congress
Small Business Disaster Relief Act of 2017
- Stage
- In committee
- Sponsor
- Mike Thompson
- Introduced
- 2017-10-26
- Latest action
- 2017-11-16 · Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.
Summary
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.