A bill to amend the Small Business Act to provide assistance to areas of economic dislocation in the United States that is the result of drastic fluctuation in the value of the currency in a country contiguous to the United States.

Summary

Amends the Small Business Act to authorize the Small Business Administration to make loans to small businesses in areas of economic dislocation resulting from: (1) drastic fluctuation in the value of the currency; and (2) adjustments in the regulation of the monetary system of a country contiguous to the United States. 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.

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Timeline

1. 19 August 1982

   Introduced

   Referred to House Committee on Small Business.

   Source: IntroReferral

2. 19 August 1982

   Introduced

   Introduced in House

   Source: IntroReferral

3. 19 August 1982

   Introduced

   Introduced in House

   Source: IntroReferral

4. 9 September 1982

   Referred

   Referred to Subcommittee on SBA & SBIC Authority, Minority Enterprise, and General Small Business Problems.

   Source: Committee

5. 29 September 1982

   Committee

   Subcommittee Hearings Held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 19 August 1982

  Open at official source

Sponsors

• Rep. de la Garza, E. [D-TX-15] · D · Sponsor
• Rep. White, Richard C. [D-TX-16] · D · Sponsor
• Rep. Kazen, Abraham, Jr. [D-TX-23] · D · Sponsor
• Rep. Loeffler, Tom [R-TX-21] · R · Sponsor
• Rep. Hunter, Duncan [R-CA-52] · R · Cosponsor
• · hssm00 · Standing

Related records

• related to ← A bill to amend the Small Business Act to provide assistance to areas of economic dislocation in the United States that is the result of drastic fluctuation in the value of the currency in a country contiguous to the United States.