S. 1853 · 115th Congress
Small Business Disaster Relief Act of 2017
- Stage
- In committee
- Sponsor
- Bill Nelson
- Introduced
- 2017-09-25
- Latest action
- 2017-09-25 · Introduced in Senate
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.