A bill to amend the Small Business Act to provide low-interest operating loans to small businesses seriously affected by a shortage in energy producing materials.

Summary

Empowers the Small Business Administration, where other financial assistance is not available on reasonable terms, to make loans (either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis) at a rate of interest not to exceed 3 percent per year to assist any small business concern to meet operating costs, if the Administration determines that such business concern has suffered substantial economic injury as the result of a shortage in energy producing material. Limits such loans to a period of 5 years.

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Documents

1 official file

• Introduced in House

  summary · EN · 10 April 1974

  Open at official source

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