Military Reserves Small Business Relief Act

Summary

Military Reserves Small Business Relief Act - Amends the Small Business Act to require the Small Business Administration (SBA), upon written request, to defer repayment of principal and interest due on a direct general business or disaster loan made to a member of the reserves ordered to active duty during a period of military conflict, as long as such reservist: (1) received the loan before being ordered to such duty; and (2) is the owner, manager, or key employee of a small business for which the loan was made. Extends such deferral period until the later of 180 days after: (1) such reservist is discharged or released from active duty; or (2) the date of enactment of this Act. Applies such assistance to periods of military conflict occurring on or after August 1, 1990. Authorizes the SBA to make disaster loans to assist a small business that has suffered or is likely to suffer economic injury as the result of the owner, manager, or key employee of such business being ordered to active duty during a period of military conflict. Provides a loan limitation. Applies such assistance to periods of military conflict occurring on or after August 1, 1990.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 May 1999

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• Introduced in House (PDF)

  Introduced in House · EN · 27 May 1999

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• Introduced in House

  summary · EN · 27 May 1999

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