Ensuring Increased Disaster Loans for Small Businesses Act or the EIDL for Small Businesses Act This bill authorizes and provides funding for additional Small Business Administration (SBA) disaster loans and advances on such loans, and it modifies the requirements for providing these advances. Specifically, the bill authorizes an additional disaster loan to a prior recipient that received such a loan during the period between January 31, 2020, and December 31, 2021, up to an aggregate amount of $2 million. Further, the bill prohibits the SBA from imposing a maximum loan amount limit that is lower than $2 million for an initial disaster loan. The bill also requires the SBA to provide a recipient of an additional disaster loan an additional advance such that the total advance amount received by the applicant is $10,000. The SBA must submit a monthly report on the status of appropriations for disaster loans.
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Commerce
AppropriationsCardiovascular and respiratory healthCongressional oversightDisaster relief and insuranceEconomic performance and conditionsEmergency medical services and trauma careExecutive agency funding and structureGovernment lending and loan guaranteesHealth programs administration and fundingHealth promotion and preventive careInfectious and parasitic diseasesSmall businessSmall Business Administration
EIDL for Small Businesses Act
USA117th CongressS-513| Senate
| Updated: 3/1/2021
Ensuring Increased Disaster Loans for Small Businesses Act or the EIDL for Small Businesses Act This bill authorizes and provides funding for additional Small Business Administration (SBA) disaster loans and advances on such loans, and it modifies the requirements for providing these advances. Specifically, the bill authorizes an additional disaster loan to a prior recipient that received such a loan during the period between January 31, 2020, and December 31, 2021, up to an aggregate amount of $2 million. Further, the bill prohibits the SBA from imposing a maximum loan amount limit that is lower than $2 million for an initial disaster loan. The bill also requires the SBA to provide a recipient of an additional disaster loan an additional advance such that the total advance amount received by the applicant is $10,000. The SBA must submit a monthly report on the status of appropriations for disaster loans.
AppropriationsCardiovascular and respiratory healthCongressional oversightDisaster relief and insuranceEconomic performance and conditionsEmergency medical services and trauma careExecutive agency funding and structureGovernment lending and loan guaranteesHealth programs administration and fundingHealth promotion and preventive careInfectious and parasitic diseasesSmall businessSmall Business Administration