A bill to amend the Small Business Act to provide disaster loan eligibility to small business concerns located in States in which one-third or more of the depository institutions have been simultaneously closed for a period of at least 5 days.

Summary

Amends the Small Business Act to empower the Small Business Administration to make disaster loans to small business concerns in a State in which one-third or more of the depository institutions have been closed simultaneously for a five-day period and, consequently, depositors cannot access their funds. Limits eligibility to situations where: (1) a substantial percentage of the applicant's funds are held in a closed depository institution; and (2) the applicant's need for credit is a direct result of the closing of such institution.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 5 February 1991

  Open at official source

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