Military Reservists Small Business Relief Act

Summary

Military Reservists Small Business Relief Act - Amends the Small Business Act to direct the Administrator of the Small Business Administration (SBA), upon request, to defer repayment of a direct loan made to: (1) an individual who is a reservist who received such loan before being called or ordered to, or retained on, active duty; or (2) a small business that received such loan before a reservist who is an owner, manager, or key employee of such small business was so called, ordered, or retained. Extends the loan deferral period from the date the individual is so called, ordered, or retained until the later of 180 days after: (1) such individual is released; or (2) the enactment of this Act, with no accrual of interest during such period. 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 its owner, manager, or key employee being ordered to active duty during a period of military conflict. Limits to $500,000 the amount outstanding and committed on each loan.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 30 September 1996

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 30 September 1996

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 30 September 1996

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.