15 U.S.C. § 636

Editorial Notes

References in Text

section 631 of this titlePub. L. 100–418, title VIII, § 8002Aug. 23, 1988102 Stat. 1553Subsections (b) and (c) of , referred to in subsecs. (a)(11) and (i)(1), were redesignated subsections (c) and (d), respectively, and a new subsection (b) was added by , , .

Pub. L. 85–699Aug. 21, 195872 Stat. 689section 661 of this titleThe Small Business Investment Act of 1958, referred to in subsecs. (a)(13), (36)(A)(xi)(III) and (j)(10)(A)(vi), (13)(D)(i), is , , . Title IV, part B of title IV, and title V of the Act are classified generally to subchapter IV–A (§ 692 et seq.), part B (§ 694a et seq.) of subchapter IV–A, and subchapter V (§ 695 et seq.), respectively, of chapter 14B of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 93–618Jan. 3, 197588 Stat. 1978section 2101 of Title 19The Trade Act of 1974, referred to in subsec. (a)(16)(E), is , , . Chapter 3 of title II of the Act is classified generally to part 3 (§ 2341 et seq.) of subchapter II of chapter 12 of Title 19, Customs Duties. For complete classification of this Act to the Code, see and Tables.

section 7002(b) of Pub. L. 116–127section 1401 of Title 26Section 7002(b) of the Families First Coronavirus Response Act, referred to in subsec. (a)(36)(A)(v), is , which is set out in a note under , Internal Revenue Code.

section 7001 of Pub. L. 116–127section 3111 of Title 26Section 7001 of the Families First Coronavirus Response Act, referred to in subsec. (a)(36)(A)(viii)(II)(dd), is , which is set out as a note under , Internal Revenue Code.

section 7003 of Pub. L. 116–127section 3111 of Title 26Section 7003 of the Families First Coronavirus Response Act, referred to in subsec. (a)(36)(A)(viii)(II)(ee), is , which is set out as a note under , Internal Revenue Code.

section 308 of Pub. L. 101–73section 1463 of Title 12Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, referred to in subsec. (a)(36)(A)(xi)(II), is , which is set out as a note under , Banks and Banking.

act June 19, 1934, ch. 65248 Stat. 1064section 609 of Title 47The Communications Act of 1934, referred to in subsec. (a)(36)(D)(iii)(II)(aa), (IV)(aa), is , . Title III of the Act is classified generally to subchapter III (§ 301 et seq.) of chapter 5 of Title 47, Telecommunications. For complete classification of this Act to the Code, see and Tables.

act Sept. 21, 1950, ch. 967, § 264 Stat. 873section 1811 of Title 12The Federal Deposit Insurance Act, referred to in subsec. (a)(36)(O)(ii), is , , which is classified generally to chapter 16 (§ 1811 et seq.) of Title 12, Banks and Banking. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Section 9009a of this titlePub. L. 116–260section 9009a of this title and such section 9009a, referred to in subsec. (a)(36)(U), (37)(A)(iv)(III)(ee), were in the original “section 24 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act” and “such section 24”, respectively. The named Act was enacted as title III of div. N of , and section 324 of such title III, which defines “eligible person or entity” for purposes of that section, is classified to .

section 2301 of Pub. L. 116–136section 3111 of Title 26Section 2301 of the CARES Act, referred to in subsec. (a)(37)(J)(iii)(I)(aa), is , which is set out as a note under , Internal Revenue Code.

Pub. L. 116–260, title IIIDec. 27, 2020134 Stat. 3075section 3111 of Title 26Section 303 of the Taxpayer Certainty and Disaster Relief Act of 2020, referred to in subsec. (a)(37)(J)(iii)(I)(bb), is section 303 of of div. EE of , , . Subsec. (a) of section 303 is not classified to the Code. Subsec. (d) of section 303 amended provisions set out as notes under , Internal Revenue Code, and is otherwise not classified to the Code. For complete classification of section 303 to the Code, see Tables.

Pub. L. 93–288May 22, 197488 Stat. 143section 5121 of Title 42The Robert T. Stafford Disaster Relief and Emergency Assistance Act, referred to in subsec. (b), is , , , formerly known as the Disaster Relief and Emergency Assistance Act, which is classified principally to chapter 68 (§ 5121 et seq.) of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

15 U.S.C. 636aPub. L. 97–35, title XIX, § 1917Aug. 13, 198195 Stat. 781Section 231 of the Disaster Relief Act of 1970 [], referred to in penultimate par. of subsec. (b), was repealed by , , .

Pub. L. 110–246June 18, 2008The date of enactment of the Small Business Disaster Response and Loan Improvements Act of 2008, referred to in subsec. (c)(10), is the date of enactment of subtitle B (§§ 12051–12091) of title XII of , which was approved .

Reorganization Plan Numbered 2 of 1954, referred to in subsec. (d)(1), is set out in the Appendix to Title 5, Government Organization and Employees.

Reorganization Plan Numbered 1 of 1957, referred to in subsec. (d)(1), is set out in the Appendix to Title 5.

Pub. L. 88–452Aug. 20, 196478 Stat. 508Pub. L. 97–35, title VI, § 683(a)Aug. 13, 198195 Stat. 519The Economic Opportunity Act of 1964, referred to in subsec. (i)(3), is , , . Title III of the Act was classified generally to subchapter III (§ 2841 et seq.) of chapter 34 of Title 42, The Public Health and Welfare, prior to its repeal by , , . For complete classification of this Act to the Code, see Tables.

Pub. L. 89–136Aug. 26, 196579 Stat. 552section 3121 of Title 42The Public Works and Economic Development Act of 1965, referred to in subsec. (i)(5)(D), is , , , which is classified generally to chapter 38 (§ 3121 et seq.) of Title 42. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Section 602(b) of Public Law 100–656section 637 of this title, the “Business Opportunity Development Reform Act of 1988”, referred to in subsec. (j)(10)(J)(ii)(III), is set out as a note under .

Section 35(a) of title 41section 35(b) of title 41Pub. L. 103–355, title VII, § 7201(1)Oct. 13, 1994108 Stat. 3378Section 35 of title 41Pub. L. 111–350Jan. 4, 2011124 Stat. 3677section 101 of Title 41, referred to in subsec. (j)(13)(C), was struck out and former redesignated section 35(a) by , , . was subsequently repealed and restated as sections 6501(1) and 6502 of Title 41, Public Contracts, by , §§ 3, 7(b), , , 3855. For disposition of sections of former Title 41, see Disposition Table preceding .

Pub. L. 113–128July 22, 2014128 Stat. 1425section 3101 of Title 29The Workforce Innovation and Opportunity Act, referred to in subsec. (j)(13)(E), is , , . Title I of the Act is classified generally to subchapter I (§ 3111 et seq.) of chapter 32 of Title 29, Labor. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

act Aug. 14, 1935, ch. 53149 Stat. 620section 1305 of Title 42The Social Security Act, referred to in subsec. (m)(1)(A)(iv), (4)(F)(iii)(II)(aa), is , . Part A of title IV of the Act is classified generally to part A (§ 601 et seq.) of subchapter IV of chapter 7 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see and Tables.

Pub. L. 102–366, title I, § 113(a)(8)Sept. 4, 1992106 Stat. 992Paragraph (10), referred to in subsec. (m)(2)(A), was redesignated paragraph (11) by , , .

section 202(b) of Pub. L. 105–135Section 202(b) of the Small Business Reauthorization Act of 1997, referred to in subsec. (m)(4)(F)(i), is , which is set out as a note below.

Pub. L. 97–35Pub. L. 101–508, title V, § 5082(2)Nov. 5, 1990104 Stat. 1388–236section 9857(a) of Title 42The Child Care and Development Block Grant Act of 1990, referred to in subsec. (m)(4)(F)(iii)(II)(aa), is subchapter C (§ 658A et seq.) of chapter 8 of subtitle A of title VI of , as added by , , , which is classified generally to subchapter II–B (§ 9857 et seq.) of chapter 105 of Title 42, The Public Health and Welfare. For complete classification of this Act to the Code, see and Tables.

Codification

September 30, 1996Pub. L. 104–208, referred to in subsec. (a)(25)(C), was in the original “the date of enactment of this subsection” which was translated as meaning the date of enactment of , which enacted par. (25) of subsec. (a), to reflect the probable intent of Congress.

August 13, 1981October 1, 1983section 1914 of Pub. L. 97–35Pub. L. 97–35Pub. L. 85–536section 631 of this titleIn subsec. (d)(3), “” substituted for “the effective date of this Act”, such words having been inserted in place of “to ” by . “This Act” probably meant the Small Business Budget Reconciliation and Loan Consolidation/Improvement Act of 1981 (title XIX of ) rather than the Small Business Act (). See Effective Date of 1981 Amendment note set out under .

Pub. L. 101–37August 15, 1989Section 32 of Pub. L. 101–37Pub. L. 101–37Pub. L. 100–656Section 803(b)(1)(A) of Pub. L. 100–656June 1, 1989Section 31 of Pub. L. 101–37section 803(b) of Pub. L. 100–656August 15, 1989June 1, 1989In subsec. (j)(11)(B)(i), as enacted by the amendments made by , “” substituted for “the effective date of this subparagraph” and “such effective date”. provided that the amendments made by shall apply as if included in . provided that the amendment made by section 201(a) thereof to subsec. (j)(11) shall take effect on . amended to make such amendments effective on , in place of . See 1988 and 1989 Effective Date of Amendment notes below.

August 24, 193549 Stat. 793Pub. L. 107–217, § 5(c)Aug. 21, 2002116 Stat. 1303“Sections 3131 and 3133 of title 40” substituted in subsec. (j)(13)(D) for “the Act entitled ‘An Act requiring contracts for the construction, alteration and repair of any public building or public work of the United States to be accompanied by a performance bond protecting the United States and by an additional bond for the protection of persons furnishing material and labor for the construction, alteration, or repair of said public buildings or public works’, approved ()” on authority of , , , the first section of which enacted Title 40, Public Buildings, Property, and Works.

section 1342 of title 3131 U.S.C. 665(b)Pub. L. 97–258, § 4(b)Sept. 13, 198296 Stat. 1067In subsec. (k)(3), “” substituted for “section 3679(b) of the Revised Statutes ()” on authority of , , , the first section of which enacted Title 31, Money and Finance.

Section 3109 of title 55 U.S.C. 55aPub. L. 89–554, § 7(b)Sept. 6, 196680 Stat. 631, referred to in subsec. (k)(4), substituted for “section 15 of the Administrative Expenses Act of 1946 ()” on authority of , , , the first section of which enacted Title 5, Government Organization and Employees.

Section 5703 of title 55 U.S.C. 73b–2section 7(b) of Pub. L. 89–554Sept. 6, 196680 Stat. 631, referred to in subsec. (k)(4), substituted for “section 5 of such Act ()” on authority of , , , section 1 of which enacted Title 5.

Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246 and made identical amendments to this section. The amendments by were repealed by .

Prior Provisions

Pub. L. 87–550July 25, 196276 Stat. 221section 3(b) of Pub. L. 89–409Provisions similar to those comprising subsec. (e) of this section were contained in section 2(a) and (b) of , , (formerly classified to section 637a(a) and (b) of this title) prior to repeal thereof by .

act July 30, 1953, ch. 282, title II67 Stat. 235Aug. 9, 1955, ch. 62869 Stat. 547Feb. 2, 1956, ch. 2970 Stat. 10Pub. L. 85–335Feb. 22, 195872 Stat. 27section 631 of this titlePrior similar provisions were contained in section 207 of , , as amended by acts , §§ 2, 5, ; , §§ 2, 3, ; , , , which was previously classified to this section. See Codification note set out under .

Amendments

Pub. L. 117–166, § 2(a)2022—Subsec. (a)(36)(W). , added subpar. (W).

Pub. L. 117–166, § 2(b)Subsec. (a)(37)(P). , added subpar. (P).

Pub. L. 117–249Subsec. (b)(16). added par. (16) relating to disaster declaration in rural areas.

Pub. L. 117–165 added par. (16) relating to statute of limitations.

Pub. L. 117–6June 30, 2021March 31, 20212021—Subsec. (a)(36)(A)(iii). substituted “” for “”.

Pub. L. 117–2, § 5001(a)(1)(A)Subsec. (a)(36)(A)(xvii). , added cl. (xvii).

Pub. L. 117–2, § 5001(a)(1)(B)(i)Subsec. (a)(36)(D)(iii)(III). , added subcl. (III).

Pub. L. 117–2, § 5001(b)(1)(A)Subsec. (a)(36)(D)(iii)(IV). , added subcl. (IV).

Pub. L. 117–2, § 5001(b)(1)(B)Subsec. (a)(36)(D)(iv)(V). , added subcl. (V).

Pub. L. 117–2, § 5001(b)(1)(C)Subsec. (a)(36)(D)(v). , substituted “subclause (II), (III), or (IV) of clause (iii), subclause (IV) or (V) of clause (iv), clause (vii), or clause (ix)” for “clause (iii)(II), (iv)(IV), or (vii)”.

Pub. L. 117–2, § 5001(b)(1)(D)Subsec. (a)(36)(D)(viii)(II). , substituted “business concern made eligible by subclause (II) or (IV) of clause (iii) or subclause (IV) or (V) of clause (iv) of this subparagraph” for “business concern made eligible by clause (iii)(II) or clause (iv)(IV) of this subparagraph” and inserted “or organization” after “business concern” in two places.

Pub. L. 117–2, § 5001(a)(1)(B)(ii)Subsec. (a)(36)(D)(ix). , added cl. (ix).

Pub. L. 117–2, § 5001(a)(2)Subsec. (a)(37)(A)(i). , inserted “ ‘additional covered nonprofit entity’,” after “the terms”.

Pub. L. 117–2, § 5001(b)(2)Subsec. (a)(37)(A)(iv)(II). , substituted “subclause (II), (III), or (IV) of clause (iii), subclause (IV) or (V) of clause (iv), clause (vii), or clause (ix)” for “clause (iii)(II), (iv)(IV), or (vii)”.

Pub. L. 117–2, § 5001(c)(2)Subsec. (a)(37)(J)(iii)(I)(cc). , added item (cc).

Pub. L. 116–283, § 866(b)(1)August 13, 2018section 2121 of title 48Subsec. (j)(13)(F)(iii)(I). , substituted “means—” and items (aa) and (bb) for “means the period beginning on , and ending on the date on which the Oversight Board established under terminates.”

Pub. L. 116–283, § 866(b)(2)Subsec. (j)(13)(F)(iii)(II). , inserted “or a covered territory business” after “a Puerto Rico business” and, in two places, substituted “either such business” for “the Puerto Rico business”.

Pub. L. 116–260, § 326(a)(2)2020—Subsec. (a)(2)(A). , amended subpar. (A) generally. Prior to amendment, text read as follows: “Except as provided in subparagraphs (B), (D), (E), and (F), in an agreement to participate in a loan on a deferred basis under this subsection (including a loan made under the Preferred Lenders Program or the Community Advantage Pilot Program of the Administration), such participation by the Administration shall be equal to 90 percent of the balance of the financing outstanding at the time of disbursement of the loan.”

Pub. L. 116–260, § 326(a)(1), substituted “the Preferred Lenders Program or the Community Advantage Pilot Program of the Administration), such participation by the Administration shall be equal to 90 percent of the balance of the financing outstanding at the time of disbursement of the loan.” for “the Preferred Lenders Program), such participation by the Administration shall be equal to—

“(i) 75 percent of the balance of the financing outstanding at the time of disbursement of the loan, if such balance exceeds $150,000; or

“(ii) 85 percent of the balance of the financing outstanding at the time of disbursement of the loan, if such balance is less than or equal to $150,000.”

Pub. L. 116–136, § 1102(a)(1)(A), substituted “(E), and (F)” for “and (E)” in introductory provisions.

Pub. L. 116–136, § 1102(a)(1)(B)Subsec. (a)(2)(F). , added subpar. (F).

Pub. L. 116–260, § 334Subsec. (a)(7). , designated existing provisions as subpar. (A), inserted heading, substituted “The Administrator” for “The Administration”, inserted “and interest” after “principal”, and added subpars. (B) and (C).

Pub. L. 116–260, § 326(b)(2)(B)Subsec. (a)(31)(A)(iv). , substituted “guarantee rate of not more than 50 percent.” for “guarantee rate—

“(I) for a loan in an amount less than or equal to $350,000, of not more than 75 percent; and

“(II) for a loan in an amount greater than $350,000, of not more than 50 percent.”

Pub. L. 116–260, § 326(b)(2)(A), substituted “with a guarantee rate—

“(I) for a loan in an amount less than or equal to $350,000, of not more than 75 percent; and

“(II) for a loan in an amount greater than $350,000, of not more than 50 percent.”

for “with a guaranty rate of not more than 50 percent.”

Pub. L. 116–136, § 1102(c)(2)Pub. L. 116–260, § 326(b)(1)Subsec. (a)(31)(D). , as amended by , substituted “$500,000” for “$1,000,000”.

Pub. L. 116–136, § 1102(c)(1), substituted “$1,000,000” for “$350,000”.

Pub. L. 116–136, § 1102(d)section 1105(a) of title 31Subsec. (a)(31)(G)(ii), (iii). , redesignated cl. (iii) as (ii) and struck out former cl. (ii). Prior to amendment, text read as follows: “If the President’s budget for the upcoming fiscal year, submitted to Congress pursuant to , includes a cost for the program established under this subsection that is above zero, the requirements of clause (i) shall not apply to loans made during such upcoming fiscal year.”

Pub. L. 116–136, § 1102(a)(2)Subsec. (a)(36). , added par. (36).

Pub. L. 116–260, § 343(a)March 31, 2021December 31, 2020Subsec. (a)(36)(A)(iii). , substituted “” for “”.

Pub. L. 116–142, § 3(a)December 31, 2020June 30, 2020, substituted “” for “”.

Pub. L. 116–260, § 308(a)Subsec. (a)(36)(A)(viii)(I)(aa)(EE). , inserted “or group life, disability, vision, or dental insurance” before “benefits”.

Pub. L. 116–260, § 344(1)Subsec. (a)(36)(A)(viii)(I)(bb). , substituted “on an annualized basis, as prorated for the period during which the payments are made or the obligation to make the payments is incurred” for “in 1 year, as prorated for the covered period”.

Pub. L. 116–260, § 344(2)(A)Subsec. (a)(36)(A)(viii)(II)(aa). , substituted “$100,000 on an annualized basis, as prorated for the period during which the compensation is paid or the obligation to pay the compensation is incurred” for “an annual salary of $100,000, as prorated for the covered period”.

Pub. L. 116–260, § 344(2)(B)Subsec. (a)(36)(A)(viii)(II)(bb). , substituted “applicable period” for “covered period”.

Pub. L. 116–139, § 101(d)(1)Subsec. (a)(36)(A)(x) to (xii). , added cls. (x) to (xii).

Pub. L. 116–260, § 315(a)Subsec. (a)(36)(A)(xiii). , added cl. (xiii).

Pub. L. 116–260, § 316(1)Subsec. (a)(36)(A)(xiv). , added cl. (xiv).

Pub. L. 116–260, § 318(1)Subsec. (a)(36)(A)(xv). , added cl. (xv).

Pub. L. 116–260, § 342(1)Subsec. (a)(36)(A)(xvi). , added cl. (xvi).

Pub. L. 116–260, § 316(2)(A)Subsec. (a)(36)(D)(i). , inserted “housing cooperative,” before “veterans organization,” wherever appearing.

Pub. L. 116–260, § 335(a)Subsec. (a)(36)(D)(ii)(II). , substituted “as determined necessary by the Administrator and the Secretary, to establish the applicant as eligible” for “as is necessary to establish such individual as eligible, including payroll tax filings reported to the Internal Revenue Service, Forms 1099–MISC, and income and expenses from the sole proprietorship, as determined by the Administrator and the Secretary”.

Pub. L. 116–260, § 317(a)Subsec. (a)(36)(D)(iii). , designated existing provisions as subcl. (I), inserted heading, and added subcl. (II).

Pub. L. 116–260, § 317(b)Subsec. (a)(36)(D)(iv)(IV). , added subcl. (IV).

Pub. L. 116–260, § 318(2)(A)Subsec. (a)(36)(D)(v). , inserted “or for purposes of determining the number of employees of a housing cooperative or a business concern or organization made eligible for a loan under this paragraph under clause (iii)(II), (iv)(IV), or (vii),” before “the term ‘employee’ ”.

Pub. L. 116–260, § 318(2)(B)Subsec. (a)(36)(D)(vi). , inserted “a business concern or organization made eligible for a loan under this paragraph under clause (vii),” after “a nonprofit organization,”.

Pub. L. 116–260, § 316(2)(B), which directed the insertion of “, a housing cooperative,” before “a veterans organization”, was executed by making the insertion before “and a veterans organization” to reflect the probable intent of Congress.

Pub. L. 116–260, § 318(2)(C)Subsec. (a)(36)(D)(vii). , added cl. (vii).

Pub. L. 116–260, § 317(c)section 342(2) of Pub. L. 116–260Subsec. (a)(36)(D)(viii). , in cl. (viii) added by , designated existing provisions as subcl. (I), inserted heading, substituted “Subject to subclause (II), and notwithstanding” for “Notwithstanding”, and added subcl. (II).

Pub. L. 116–260, § 342(2), added cl. (viii).

Pub. L. 116–260, § 313(a)(1)Subsec. (a)(36)(E). , substituted “Except as provided in subparagraph (V), during” for “During” in introductory provisions.

Pub. L. 116–260, § 336(a)February 15, 2019February 15, 2020February 15, 2019March 1, 2019June 30, 2019Subsec. (a)(36)(E)(i)(I)(aa)(AA). , substituted “except that an applicant that is a seasonal employer shall use the average total monthly payments for payroll for any 12-week period selected by the seasonal employer between , and ” for “except that, in the case of an applicant that is seasonal employer, as determined by the Administrator, the average total monthly payments for payroll shall be for the 12-week period beginning , or at the election of the eligible recipient, , and ending ”.

Pub. L. 116–260, § 304(a)Subsec. (a)(36)(F)(i)(VIII) to (XI). , added subcls. (VIII) to (XI).

Pub. L. 116–260, § 337(a)Subsec. (a)(36)(F)(v). , substituted “clause (i) or (iv)” for “clause (i)”.

Pub. L. 116–260, § 319Subsec. (a)(36)(F)(vi). , added cl. (vi).

Pub. L. 116–260, § 338(a)(1)Subsec. (a)(36)(H). , substituted “With” for “During the covered period, with” in introductory provisions.

Pub. L. 116–260, § 338(a)(2)Subsec. (a)(36)(J). , substituted “With” for “During the covered period, with” in introductory provisions.

Pub. L. 116–260, § 304(b)(1)(C)(ii)(I)Subsec. (a)(36)(K). , substituted “section 636m” for “section 9005” in introductory provisions.

Pub. L. 116–142, § 2(a)Subsec. (a)(36)(K)(ii). , inserted “minimum maturity of 5 years and a” before “maximum maturity”.

Pub. L. 116–260, § 339(b)Subsec. (a)(36)(L). , inserted “, calculated on a non-compounding, non-adjustable basis” after “4 percent”.

Pub. L. 116–260, § 304(b)(1)(C)(ii)(II)(aa)Subsec. (a)(36)(M). , substituted “section 636m” for “section 9005” in two places.

Pub. L. 116–260, § 338(a)(3)(A)Subsec. (a)(36)(M)(ii). , substituted “The” for “During the covered period, the” in introductory provisions.

Pub. L. 116–142, § 3(c)(1)section 9005 of this titleSubsec. (a)(36)(M)(ii)(II). , substituted “, including payment of principal, interest, and fees, until the date on which the amount of forgiveness determined under is remitted to the lender.” for “for a period of not less than 6 months, including payment of principal, interest, and fees, and not more than 1 year.”

Pub. L. 116–260, § 338(a)(3)(B)Subsec. (a)(36)(M)(iii). , substituted “With” for “During the covered period, with”.

Pub. L. 116–142, § 3(c)(2)section 9005 of this title, substituted “, including payment of principal, interest, and fees, until the date on which the amount of forgiveness determined under is remitted to the lender.” for “for a period of not less than 6 months, including payment of principal, interest, and fees, and not more than 1 year.”

Pub. L. 116–260, § 304(b)(1)(C)(ii)(II)(bb)Subsec. (a)(36)(M)(v). , substituted “section 636m(a)” for “section 9005(a)”.

Pub. L. 116–142, § 3(c)(3), added cl. (v).

Pub. L. 116–260, § 340(a)(1)Subsec. (a)(36)(P)(i). , amended cl. (i) generally. Prior to amendment, text read as follows: “The Administrator shall reimburse a lender authorized to make a covered loan at a rate, based on the balance of the financing outstanding at the time of disbursement of the covered loan, of—

“(I) 5 percent for loans of not more than $350,000;

“(II) 3 percent for loans of more than $350,000 and less than $2,000,000; and

“(III) 1 percent for loans of not less than $2,000,000.”

Pub. L. 116–260, § 340(b)(1)Subsec. (a)(36)(P)(ii). , inserted at end “If an eligible recipient has knowingly retained an agent, such fees shall be paid by the eligible recipient and may not be paid out of the proceeds of a covered loan. A lender shall only be responsible for paying fees to an agent for services for which the lender directly contracts with the agent.”

Pub. L. 116–260, § 340(a)(2)Subsec. (a)(36)(P)(iii). , amended cl. (iii) generally. Prior to amendment, text read as follows: “A reimbursement described in clause (i) shall be made not later than 5 days after the disbursement of the covered loan.”

Pub. L. 116–260, § 341January 31, 2020Subsec. (a)(36)(Q). , which directed striking out “during the period beginning on , and ending on the date on which covered loans are made available”, which appeared after “loan made under subsection (b)(2)”, was executed by striking out text containing “2020 and” instead of “2020, and”, to reflect the probable intent of Congress.

Pub. L. 116–139, § 101(d)(2)Subsec. (a)(36)(S). , added subpar. (S).

Pub. L. 116–260, § 310(a)(1)Subsec. (a)(36)(T). , added subpar. (T).

Pub. L. 116–260, § 310(b)Subsec. (a)(36)(U). , added subpar. (U).

Pub. L. 116–260, § 313(a)(2)Subsec. (a)(36)(V). , added subpar. (V).

Pub. L. 116–260, § 311(a)Subsec. (a)(37). , added par. (37).

Pub. L. 116–136, § 1110(f)(7)Provided furtherSubsec. (b)(2). , inserted “: , That for purposes of subparagraph (D), the Administrator shall deem that such an emergency affects each State or subdivision thereof (including counties), and that each State or subdivision has sufficient economic damage to small business concerns to qualify for assistance under this paragraph and the Administrator shall accept applications for such assistance immediately” before period at end of concluding provisions.

Pub. L. 116–136, § 1110(f)(1)Subsec. (b)(2)(D). –(3), (5), added subpar. (D). Former subpar. (D) redesignated (E).

Pub. L. 116–136, § 1110(f)(4)Subsec. (b)(2)(E). , (6), redesignated subpar. (D) as (E) and substituted “(C), or (D)” for “or (C)”; “disaster or emergency declaration” for “disaster declaration” in two places; “disaster or emergency has occurred” for “disaster has occurred”; “such disaster or emergency” for “such disaster”; and “disaster- or emergency-stricken” for “disaster stricken”.

Pub. L. 116–260, § 329(a)(2)Subsec. (m)(3)(C). , substituted “$7,000,000” for “$10,000,000” and “$3,000,000” for “$4,500,000”.

Pub. L. 116–260, § 329(a)(1)(A), substituted “$10,000,000 (in the aggregate)” for “and $6,000,000” and inserted before period at end “, and $4,500,000 in any of those remaining years”.

Pub. L. 116–260, § 329(a)(1)(B)(i)Subsec. (m)(4)(A). , substituted “subparagraphs (C) and (G)” for “subparagraph (C)” in two places.

Pub. L. 116–260, § 329(a)(1)(B)(ii)Subsec. (m)(4)(C)(i). , amended cl. (i) generally. Prior to amendment, text read as follows: “Each intermediary that has a portfolio of loans made under this subsection that averages not more than $10,000 during the period of the intermediary’s participation in the program shall be eligible to receive a grant equal to 5 percent of the total outstanding balance of loans made to the intermediary under this subsection, in addition to grants made under subparagraph (A).”

Pub. L. 116–260, § 329(a)(1)(B)(iii)Subsec. (m)(4)(G). , added subpar. (G).

Pub. L. 116–260, § 329(a)(1)(C)(i)Subsec. (m)(11)(C)(ii). , directed amendment of cl. (ii) by striking all after the semicolon and inserting “and”, resulting in substitution of “and” for “and” at end.

Pub. L. 116–260, § 329(a)(1)(C)(ii)Pub. L. 103–403, § 208(c)Subsec. (m)(11)(D). , directed amendment of par. (11) by adding subpar. (D) and striking out all after subpar. (C), resulting in striking of former subpar. (D) as added by . See 1994 Amendment note below.

Pub. L. 116–92, § 877(a)(1)(A)2019—Subsec. (b)(3)(A)(i), (ii). , added cl. (i), redesignated former cl. (i) as (ii) and inserted “and” at end, and struck out former cl. (ii) which defined the term “period of military conflict”.

Pub. L. 116–92, § 877(a)(1)(B)Subsec. (b)(3)(B). , substituted “being ordered to perform active service for a period of more than 30 consecutive days” for “being ordered to active military duty during a period of military conflict”.

Pub. L. 116–92, § 877(a)(1)(C)Subsec. (b)(3)(C). , substituted “active service” for “active duty” in two places.

Pub. L. 116–92, § 877(a)(1)(D)Subsec. (b)(3)(G)(ii)(II). , substituted “active service” for “active duty”.

Pub. L. 116–92, § 877(a)(2)Subsec. (n). , substituted “active service” for “active duty” in heading and in two places in each of pars. (1)(D) and (2)(B), and in par. (1), added subpar. (A), redesignated former subpars. (A) and (B) as (B) and (C), respectively, substituted “ordered to perform active service for a period of more than 30 consecutive days” for “ordered to active duty during a period of military conflict” in subpar. (B) as redesignated, and struck out former subpar. (C) which defined the term “period of military conflict”.

Pub. L. 115–1892018—Subsec. (a)(1)(A)(i). inserted “The Administrator has the authority to direct, and conduct oversight for, the methods by which lenders determine whether a borrower is able to obtain credit elsewhere.” before “No financial assistance”.

Pub. L. 115–232, § 862(b)(1)(A)(i)Subsec. (a)(15)(A). , substituted “this subsection—” for “this subsection”, inserted cl. (i) designation before “to qualified employee trusts” and “, and for any transaction costs associated with purchasing,” after “purchasing”, substituted “; and” for period at end, and added cl. (ii).

Pub. L. 115–232, § 862(b)(1)(A)(ii)(I)Subsec. (a)(15)(B). , inserted “or by the small business concern” after “the trustee of such trust” in introductory provisions.

Pub. L. 115–232, § 862(b)(1)(A)(ii)(II)Subsec. (a)(15)(B)(iv). –(IV), added cl. (iv).

Pub. L. 115–232, § 862(f)Subsec. (a)(15)(E). , substituted “Administration, which shall include—” for “Administration.” and added cls. (i) to (iii).

Pub. L. 115–232, § 862(b)(1)(A)(iii)Subsec. (a)(15)(F), (G). , added subpars. (F) and (G).

Pub. L. 115–370Subsec. (a)(29). redesignated introductory provisions as subpar. (A) and inserted heading, redesignated former subpars. (A) and (B) as cls. (i) and (ii), respectively, of subpar. (A) and realigned margins, in cl. (i), substituted “, if such loan is in an amount greater than the Federal banking regulator appraisal threshold” for “for more than $250,000”, in cl. (ii), substituted “, if such loan is in an amount equal to or less than the Federal banking regulator appraisal threshold” for “$250,000 or less”, and added subpar. (B).

Pub. L. 115–232, § 862(b)(1)(B)Subsec. (a)(35). , added par. (35).

Pub. L. 115–232, § 861(c)Subsec. (j)(13)(F)(iii). , added cl. (iii).

Pub. L. 115–232, § 853(b)Subsec. (m)(3)(C). , substituted “$6,000,000” for “$5,000,000”.

Pub. L. 115–141Subsec. (m)(4)(E). substituted “50 percent” for “25 percent” in cls. (i) and (ii).

Pub. L. 114–38, § 4(b)(1)2015—Subsec. (a)(1)(A). , designated existing provisions as cl. (i), inserted cl. (i) heading, and added cl. (ii)

Pub. L. 114–38, § 4(b)(2)Subsec. (a)(1)(C). , added subpar. (C).

Pub. L. 114–88, § 2106(1)Subsec. (a)(31)(A). , added cl. (i) and redesignated former cls. (i) to (iii) as (ii) to (iv), respectively.

Pub. L. 114–38, § 2Subsec. (a)(31)(G). , added subpar. (G).

Pub. L. 114–88, § 2106(2)Subsec. (a)(31)(H). , added subpar. (H).

Pub. L. 114–88, § 1102Subsec. (b)(1)(A). , substituted “mitigating measures, including—” and text of cls. (i) to (iii) for “mitigating measures, including, but not limited to, construction of retaining walls and sea walls, grading and contouring land, relocating utilities and modifying structures”.

Pub. L. 114–88, § 1103Subsec. (b)(10). , added par. (10).

Pub. L. 114–88, § 1104Subsec. (b)(11). , added par. (11).

Pub. L. 114–88, § 2101Subsec. (b)(12). , added par. (12).

Pub. L. 114–88, § 2107Subsec. (b)(13). , added par. (13).

Pub. L. 114–88, § 2201Subsec. (b)(14). , added par. (14).

Pub. L. 114–88, § 2301(a)Subsec. (b)(15). , added par. (15).

Pub. L. 114–88, § 2109Provided furtherProvided furtherSubsec. (d)(6). , inserted “: , That the Administrator, in obtaining the best available collateral for a loan of not more than $200,000 under paragraph (1) or (2) of subsection (b) relating to damage to or destruction of the property of, or economic injury to, a small business concern, shall not require the owner of the small business concern to use the primary residence of the owner as collateral if the Administrator determines that the owner has other assets of equal quality and with a value equal to or greater than the amount of the loan that could be used as collateral for the loan: , That nothing in the preceding proviso may be construed to reduce the amount of collateral required by the Administrator in connection with a loan described in the preceding proviso or to modify the standards used to evaluate the quality (rather than the type) of such collateral” after “which are made under paragraph (1) of subsection (b)”.

Pub. L. 114–88, § 2102(b), substituted “$14,000” for “$25,000” and “in the event of a major disaster” for “in the event of a disaster”.

Pub. L. 114–88, § 2102(a), substituted “$25,000” for “$14,000” and “in the event of a disaster” for “in the event of a major disaster”.

Pub. L. 114–88, § 1101Subsec. (d)(8). , added par. (8).

Pub. L. 114–92Subsec. (j)(10)(D)(i). struck out “The Business Opportunity Specialist shall have a Level I Federal Acquisition Certification in Contracting (or any successor certification) or the equivalent Department of Defense certification, except that a Business Opportunity Specialist serving at the time of the date of enactment of the National Defense Authorization Act for Fiscal Year 2013 may continue to serve as a Business Opportunity Specialist for a period of 5 years beginning on that date of enactment without such a certification.” after “to assist such Program Participant.”

Pub. L. 114–88, § 2105Subsec. (j)(13)(F). , designated existing provisions as cl. (i) and added cl. (ii).

Pub. L. 113–1282014—Subsec. (j)(13)(E). substituted “an institution eligible to provide skills training or upgrading under title I of the Workforce Innovation and Opportunity Act” for “an institution eligible to provide skills training or upgrading under title I of the Workforce Investment Act of 1998”.

Pub. L. 112–2392013—Subsec. (j)(10)(D)(i). inserted “The Business Opportunity Specialist shall have a Level I Federal Acquisition Certification in Contracting (or any successor certification) or the equivalent Department of Defense certification, except that a Business Opportunity Specialist serving at the time of the date of enactment of the National Defense Authorization Act for Fiscal Year 2013 may continue to serve as a Business Opportunity Specialist for a period of 5 years beginning on that date of enactment without such a certification.” after “to assist such Program Participant.”

Pub. L. 112–742011—Subsec. (d)(5)(D). substituted “7 years” for “three years”.

Pub. L. 111–240, § 1206(a)(2)(A)2010—Subsec. (a)(2)(A). , substituted “subparagraphs (B), (D), and (E)” for “subparagraph (B)” in introductory provisions.

Pub. L. 111–240, § 1111(b)(1)(A)Subsec. (a)(2)(A)(i). , substituted “75 percent” for “90 percent”.

Pub. L. 111–240, § 1111(a)(1)(A), substituted “90 percent” for “75 percent”.

Pub. L. 111–240, § 1111(b)(1)(B)Subsec. (a)(2)(A)(ii). , substituted “85 percent” for “90 percent”.

Pub. L. 111–240, § 1111(a)(1)(B), substituted “90 percent” for “85 percent”.

Pub. L. 111–240, § 1206(e)Subsec. (a)(2)(C)(ii), (iii). , added cl. (ii) and redesignated former cl. (ii) as (iii).

Pub. L. 111–240, § 1206(d)(1)Subsec. (a)(2)(D). , substituted “be” for “not exceed”.

Pub. L. 111–240, § 1206(a)(2)(B), substituted “In” for “Notwithstanding subparagraph (A), in”.

Pub. L. 111–240, § 1206(a)(2)(C)Subsec. (a)(2)(E). , added subpar. (E).

Pub. L. 111–240, § 1111(b)(2)Subsec. (a)(3)(A). , substituted “$3,750,000” for “$4,500,000”.

Pub. L. 111–240, § 1111(a)(2), substituted “$4,500,000 (or if the gross loan amount would exceed $5,000,000” for “$1,500,000 (or if the gross loan amount would exceed $2,000,000”.

Pub. L. 111–240, § 1206(a)(1)Subsec. (a)(3)(B). , substituted “$4,500,000 (or if the gross loan amount would exceed $5,000,000), of which not more than $4,000,000” for “$1,750,000, of which not more than $1,250,000”.

Pub. L. 111–240, § 1206(d)(2)Subsec. (a)(14). , inserted par. (14) and subpar. (A) headings, substituted “The Administrator” for “The Administration” in subpar. (A), added subpar. (B), redesignated former subpars. (B) and (C) as (C) and (D), respectively, and inserted headings, and substituted “The Administrator” for “The Administration” in subpar. (D) as redesignated.

Pub. L. 111–240, § 1206(b)(1)Subsec. (a)(16)(A). , struck out “in” before dash at end of introductory provisions.

Pub. L. 111–240, § 1206(b)(2)Subsec. (a)(16)(A)(i). , inserted “in” after cl. (i) designation and struck out “or” at end.

Pub. L. 111–240, § 1206(b)(3)Subsec. (a)(16)(A)(ii). , inserted “in” after cl. (ii) designation and substituted “, including any debt that qualifies for refinancing under any other provision of this subsection; or” for period at end.

Pub. L. 111–240, § 1206(b)(4)Subsec. (a)(16)(A)(iii). , added cl. (iii).

Pub. L. 111–240, § 1206(c)Subsec. (a)(16)(B). , designated existing provisions as cl. (i), inserted cl. (i) heading, substituted “Except as provided in clause (ii), each loan” for “Each loan”, and added cl. (ii).

Pub. L. 111–240, § 1206(g)Subsec. (a)(16)(F). , added subpar. (F).

Pub. L. 111–240, § 1135(b)Subsec. (a)(31)(D). , substituted “$350,000” for “$1,000,000”.

Pub. L. 111–240, § 1135(a), substituted “$1,000,000” for “$350,000”.

Pub. L. 111–240, § 1133(a)(1)Subsec. (a)(32), (33). , redesignated par. (32), relating to increased veteran participation program, as (33).

Pub. L. 111–240, § 1133(b)Subsec. (a)(34). , redesignated par. (35) as (34) and struck out former par. (34) which related to floor plan financing program.

Pub. L. 111–240, § 1133(a)(2), added par. (34).

Pub. L. 111–240, § 1206(f)Subsec. (a)(35). , added par. (35).

Pub. L. 111–240, § 1133(b)(2), redesignated par. (35) as (34).

lPub. L. 111–240, § 1131(a)llSubsec. (). , added subsec. () and struck out former subsec. () which read “[RESERVED]”.

Pub. L. 111–240, § 1113(1)Subsec. (m)(1)(B)(iii). , substituted “$50,000” for “$35,000”.

Pub. L. 111–240, § 1401(c)(1)(A)Subsec. (m)(3)(B). , struck out cl. (i) designation and heading, substituted “As” for “Subject to clause (ii), as”, and struck out cl. (ii) relating to waiver of non-Federal share.

Pub. L. 111–240, § 1401(a)(1), designated existing provisions as cl. (i) and inserted cl. (i) heading, substituted “Subject to clause (ii), as a condition” for “As a condition” and “the Administrator” for “the Administration”, and added cl. (ii).

Pub. L. 111–240, § 1113(2)(A)Subsec. (m)(3)(C). , substituted “$5,000,000” for “$3,500,000”.

Pub. L. 111–240, § 1113(2)(B)Subsec. (m)(3)(E). , substituted “$50,000” for “$35,000” in two places.

Pub. L. 111–240, § 1401(c)(1)(B)Subsec. (m)(4)(B). , struck out cl. (i) designation and heading, substituted “As” for “Subject to clause (ii), as”, and struck out cl. (ii) relating to waiver of non-Federal share.

Pub. L. 111–240, § 1401(a)(2), designated existing provisions as cl. (i), inserted cl. (i) heading, substituted “Subject to clause (ii), as a condition of a grant made under subparagraph (A), the Administrator shall require” for “As a condition of any grant made under subparagraph (A), the Administration shall require”, and added cl. (ii).

Pub. L. 111–240, § 1113(3)Subsec. (m)(11)(B). , substituted “$50,000” for “$35,000”.

Pub. L. 110–186, § 2082008—Subsec. (a)(32). , added par. (32) relating to increased veteran participation program.

Pub. L. 110–246, § 12078(c)(2)Subsec. (b). , in concluding provisions substituted “paragraphs (1) and (2)” for “paragraphs (1), (2), and (4)” and “paragraph (1) (2)” for “paragraph (1), (2), or (4)”.

Pub. L. 110–246, § 12078(c)(1), substituted “the Administration” for “the, Administration” in introductory provisions.

Pub. L. 110–246, § 12068(b)(2)(B)Pub. L. 110–246, which directed amendment of “the undesignated matter following paragraph (3)” by substituting “Notwithstanding any other provision of law, and except as provided in subsection (d), the interest rate on the Administration’s share of any loan made under subsection (b)” for “Notwithstanding the provisions of any other law the interest rate on the Administration’s share of any loan made under subsection (b) except as provided in subsection (c),” was executed by making the substitution for “Notwithstanding the provisions of any other law, the interest rate on the Administration’s share of any loan made under subsection (b), except as provided in subsection (c),” in concluding provisions after par. (6), to reflect the probable intent of Congress and the addition of pars. (4) to (6) by , §§ 12063(a), 12066(a). See below.

Pub. L. 110–246, § 12068(b)(2)(A)Pub. L. 110–246, which directed amendment of “the undesignated matter following paragraph (3)” by substituting “That the provisions of paragraph (1) of subsection (d)” for “That the provisions of paragraph (1) of subsection (c)”, was executed by making the substitution in concluding provisions after par. (6), to reflect the probable intent of Congress and the addition of pars. (4) to (6) by , §§ 12063(a), 12066(a). See below.

Pub. L. 110–246, § 12078(b)(1)Subsec. (b)(1)(A). , inserted “of the aggregate costs of such damage or destruction (whether or not compensated for by insurance or otherwise)” after “20 per centum”.

Pub. L. 110–246, § 12061(a)(1)Subsec. (b)(2). , in introductory provisions inserted “, private nonprofit organization,” after “small business concern” and “, the organization,” after “the concern”.

Pub. L. 110–246, § 12063(c)(2)42 U.S.C. 5121Subsec. (b)(2)(A). , substituted “Robert T. Stafford Disaster Relief and Emergency Assistance Act ( et seq.)” for “Disaster Relief and Emergency Assistance Act”.

Pub. L. 110–246, § 12061(a)(2)Subsec. (b)(2)(D). , inserted “, private nonprofit organizations,” after “small business concerns”.

Pub. L. 110–186, § 201(a)Subsec. (b)(3)(C). , substituted “1 year” for “90 days” and inserted at end “The Administrator may, when appropriate (as determined by the Administrator), extend the ending date specified in the preceding sentence by not more than 1 year.”

Pub. L. 110–246, § 12077Subsec. (b)(3)(E). , inserted “, or have become due to changed economic circumstances,” after “constitutes”.

Pub. L. 110–186Subsec. (b)(3)(G), (H). , §§ 203, 204, added subpars. (G) and (H).

Pub. L. 110–246, § 12063(a)Subsec. (b)(4), (5). , added pars. (4) and (5).

Pub. L. 110–246, § 12066(a)Subsec. (b)(6). , added par. (6).

Pub. L. 110–246, § 12074(a)Subsec. (b)(7). , added par. (7).

Pub. L. 110–246, § 12078(a)Subsec. (b)(8). , added par. (8).

Pub. L. 110–246, § 12081Subsec. (b)(9). , added par. (9).

Pub. L. 110–246, § 12082Subsec. (b)(9)(C), (D). , added subpars. (C) and (D).

Pub. L. 110–246, § 12083(a)Subsec. (c). , added subsec. (c).

Pub. L. 110–246, § 12068(a)(1), redesignated subsec. (c) as (d).

Pub. L. 110–246, § 12061(b)Subsec. (c)(5)(C). , inserted “, private nonprofit organization,” after “business”.

Pub. L. 110–246, § 12065Subsec. (c)(6). , substituted “$14,000 or less (or such higher amount as the Administrator determines appropriate in the event of a major disaster)” for “$10,000 or less”.

Pub. L. 110–246, § 12068(a)Subsecs. (d) to (f). , redesignated subsecs. (c) and (d) as (d) and (e), respectively, and added subsec. (f).

Pub. L. 110–246, § 12070Subsec. (g). , added subsec. (g).

Pub. L. 110–140, § 12012007—Subsec. (a)(31)(F). , added subpar. (F).

Pub. L. 110–140, § 1202Subsec. (a)(32). , added par. (32).

Pub. L. 109–163, § 845(a)(2)(A)2006—Subsec. (b)(2). , in introductory provisions, inserted “(including drought), with respect to both farm-related and nonfarm-related small business concerns,” before “if the Administration”.

Pub. L. 109–163, § 845(a)(2)(B)section 1961 of title 77 U.S.C. 1961Subsec. (b)(2)(B). , substituted “, in which case, assistance under this paragraph may be provided to farm-related and nonfarm-related small business concerns, subject to the other applicable requirements of this paragraph” for “the Consolidated Farmers Home Administration Act of 1961 ()”.

Pub. L. 109–163, § 845(c)Subsec. (b)(2)(D). , substituted “Not later than 30 days after the date of receipt of such certification by a Governor of a State, the Administration shall respond in writing to that Governor on its determination and the reasons therefore, and may” for “Upon receipt of such certification, the Administration may”.

Pub. L. 108–447, § 103(a)2004—Subsec. (a)(3)(A). , substituted “$1,500,000” for “$1,000,000”.

Pub. L. 108–447, § 107(b)Subsec. (a)(3)(B). , substituted “$1,750,000” for “$1,250,000” and “$1,250,000” for “$750,000”.

Pub. L. 108–447, § 107(a)Subsec. (a)(16). , inserted heading and amended par. (16) generally. Prior to amendment, par. (16) provided that the Administration could guarantee loans to assist any eligible small business concern in an industry engaged in or adversely affected by international trade in the financing of the acquisition, construction, renovation, modernization, improvement or expansion of productive facilities or equipment to be used in the United States in the production of goods and services involved in international trade.

Pub. L. 108–447, § 102(a)Subsec. (a)(18)(A). , amended heading and text of subpar. (A) generally. Prior to amendment, text read as follows: “With respect to each loan guaranteed under this subsection (other than a loan that is repayable in 1 year or less), the Administration shall collect a guarantee fee, which shall be payable by the participating lender, and may be charged to the borrower, as follows:

“(i) A guarantee fee equal to 2 percent of the deferred participation share of a total loan amount that is not more than $150,000.

“(ii) A guarantee fee equal to 3 percent of the deferred participation share of a total loan amount that is more than $150,000, but not more than $700,000.

“(iii) A guarantee fee equal to 3.5 percent of the deferred participation share of a total loan amount that is more than $700,000.”

Pub. L. 108–447, § 102(b)October 1, 2002Subsec. (a)(18)(C). , struck out heading and text of subpar. (C). Text read as follows: “With respect to loans approved during the 2-year period beginning on , the guarantee fee under subparagraph (A) shall be as follows:

“(i) A guarantee fee equal to 1 percent of the deferred participation share of a total loan amount that is not more than $150,000.

“(ii) A guarantee fee equal to 2.5 percent of the deferred participation share of a total loan amount that is more than $150,000, but not more than $700,000.

“(iii) A guarantee fee equal to 3.5 percent of the deferred participation share of a total loan amount that is more than $700,000.”

Pub. L. 108–447, § 102(c)(1)Subsec. (a)(23). , substituted “Yearly” for “Annual” in heading.

Pub. L. 108–447, § 102(c)(2)October 1, 2002Subsec. (a)(23)(A). , added subpar. (A) and struck out heading and text of former subpar. (A). Text read as follows: “With respect to each loan guaranteed under this subsection, the Administration shall, in accordance with such terms and procedures as the Administration shall establish by regulation, assess and collect an annual fee in an amount equal to 0.5 percent of the outstanding balance of the deferred participation share of the loan. With respect to loans approved during the 2-year period beginning on , the annual fee assessed and collected under the preceding sentence shall be in an amount equal to 0.25 percent of the outstanding balance of the deferred participation share of the loan.”

Pub. L. 108–447, § 102(c)(3)Subsec. (a)(23)(B). , substituted “yearly” for “annual”.

Pub. L. 108–447, § 102(c)(4)Subsec. (a)(23)(C). , added subpar. (C).

Pub. L. 108–447, § 101(a)Subsec. (a)(31). , added par. (31).

Pub. L. 107–100, § 6(a)(1)2001—Subsec. (a)(18)(C). , added subpar. (C).

Pub. L. 107–100, § 6(a)(2)October 1, 2002Subsec. (a)(23)(A). , inserted at end “With respect to loans approved during the 2-year period beginning on , the annual fee assessed and collected under the preceding sentence shall be in an amount equal to 0.25 percent of the outstanding balance of the deferred participation share of the loan.”

Pub. L. 106–554, § 1(a)(9) [title II, § 202(1)]2000—Subsec. (a)(2)(A)(i). , substituted “$150,000” for “$100,000”.

Pub. L. 106–554, § 1(a)(9) [title II, § 202(2)]Subsec. (a)(2)(A)(ii). , substituted “85 percent” for “80 percent” and “$150,000” for “$100,000”.

Pub. L. 106–554, § 1(a)(9) [title II, § 203]Subsec. (a)(3)(A). , substituted “$1,000,000 (or if the gross loan amount would exceed $2,000,000),” for “$750,000,”.

Pub. L. 106–554, § 1(a)(9) [title II, § 205(1)]Subsec. (a)(4). , inserted heading and struck out former heading “Interest rates and fees.—”.

Pub. L. 106–554, § 1(a)(9) [title II, § 204]Subsec. (a)(4)(B)(iii). , added cl. (iii).

Pub. L. 106–554, § 1(a)(9) [title II, § 205(2)]Subsec. (a)(4)(C). , added subpar. (C).

Pub. L. 106–554, § 1(a)(9) [title II, § 206]Subsec. (a)(18). , amended heading and text of par. (18) generally, substituting present provisions for provisions which had authorized guarantee fee in an amount equal to sum of 3 percent of amount of deferred participation share of loan that was less than or equal to $250,000, if deferred participation share of loan exceeded $250,000, plus 3.5 percent of difference between $500,000 or total deferred participation share of loan, whichever was less, and $250,000, plus, if deferred participation share of loan exceeded $500,000, 3.875 percent of difference between total deferred participation share of loan and $500,000, and set forth provisions relating to exception for certain loans.

Pub. L. 106–554, § 1(a)(9) [title II, § 207]Subsec. (a)(28). , added par. (28).

Pub. L. 106–554, § 1(a)(9) [title II, § 208(a)]Subsec. (a)(29). , added par. (29).

Pub. L. 106–554, § 1(a)(9) [title VIII, § 802(a)]Subsec. (a)(30). , added par. (30).

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(2)]Subsec. (m)(1)(A)(iii)(I). , substituted “$10,000” for “$7,500”.

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(1)]Subsec. (m)(1)(B)(iii). , substituted “$35,000” for “$25,000”.

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(2)]Subsec. (m)(3)(A)(ii). , substituted “$10,000” for “$7,500”.

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(1), (3)]Subsec. (m)(3)(E). , substituted “$20,000” for “$15,000” and “$35,000” for “$25,000” in two places.

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(2)]Pub. L. 103–403, § 208(a)(2)Subsec. (m)(4)(C)(i). , which directed the amendment of subsec. (m)(4)(C)(i)(II) by substituting “$10,000” for “$7,500”, was executed by making the substitution in subsec. (m)(4)(C)(i) to reflect the probable intent of Congress and the termination of the temporary amendment by , (c). See 1994 Amendment note and Effective and Termination Dates of 1994 Amendment note below.

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(4)]Subsec. (m)(5)(A). , substituted “55 grants” for “25 grants” and “$200,000” for “$125,000”.

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(5)]Subsec. (m)(6)(B). , substituted “$15,000” for “$10,000”.

Pub. L. 106–554, § 1(a)(9) [title II, § 210(a)(6)]Subsec. (m)(7)(A). , added subpar. (A) and struck out heading and text of former subpar. (A). Text read as follows: “During the program authorized by this subsection, the Administration may fund, on a competitive basis, not more than 200 microloan programs.”

Pub. L. 106–554, § 1(a)(9) [title II, § 210(b)]Subsec. (m)(11)(B). , substituted “$35,000” for “$25,000”.

Pub. L. 106–50, § 401(b)1999—Subsec. (a)(10). , inserted “guaranteed” after “provide” and “, including service-disabled veterans,” after “handicapped individual”.

Pub. L. 106–50, § 404Subsec. (a)(21)(A)(ii). , inserted “or a veteran” after “qualified individual”.

Pub. L. 106–8, § 3(a)Subsec. (a)(27). , (c), temporarily added par. (27) relating to Year 2000 computer problem program. See Effective and Termination Dates of 1999 Amendments note below.

Pub. L. 106–24, § 1(a)Subsec. (b)(1)(C). , added subpar. (C).

Pub. L. 106–50, § 402(b)Subsec. (b)(3). , added par. (3).

Pub. L. 106–50, § 403section 632(q) of this titleSubsec. (m)(1)(A)(i). , inserted “veteran (within the meaning of such term under ),” after “low-income,”.

Pub. L. 106–22, § 3Subsec. (m)(3)(D). , struck out subpar. (D) heading and amended text generally. Prior to amendment, text read as follows: “The Administration shall, by regulation, require each intermediary to establish a loan loss reserve fund, and to maintain such reserve fund until all obligations owed to the Administration under this subsection are repaid. The Administration shall require the loan loss reserve fund to be maintained—

“(i) during the initial 5 years of the intermediary’s participation in the program under this subsection, at a level equal to not more than 15 percent of the outstanding balance of the notes receivable owed to the intermediary; and

“(ii) in each year of participation thereafter, at a level equal to not more than the greater of—

“(I) 2 times an amount reflecting the total losses of the intermediary as a result of participation in the program under this subsection, as determined by the Administrator on a case-by-case basis; or

“(II) 10 percent of the outstanding balance of the notes receivable owed to the intermediary.”

Pub. L. 106–22, § 2(1)Subsec. (m)(7)(B). , added subpar. (B) and struck out heading and text of former subpar. (B). Text read as follows: “During any fiscal year, a State shall not receive new loan funds from the Administration that exceed 125 percent of the State’s pro rata share of the microloan program authorization during such fiscal year, such share to be based on the population of the State, as compared to the total population of the United States. If, however, at the beginning of the fourth quarter of a fiscal year the Administration determines that a portion of appropriated microloan funds are unlikely to be awarded during that year, the Administration may make additional funds available to a State in excess of 125 percent of the pro rata share of that State.”

Pub. L. 106–22, § 2(2)Subsec. (m)(8). , inserted “and providing funding to intermediaries” after “program applicants” and “and provide funding to” after “shall select”.

Pub. L. 106–50, § 402(a)Subsec. (n). , added subsec. (n).

Pub. L. 105–277, § 101(f) [title VIII, § 405(f)(9)]1998—Subsec. (j)(13)(E). , struck out “the Job Training Partnership Act or” before “title I of the Workforce” in introductory provisions.

Pub. L. 105–277, § 101(f) [title VIII, § 405(d)(10)]29 U.S.C. 1501, substituted “the Job Training Partnership Act or title I of the Workforce Investment Act of 1998” for “the Job Training Partnership Act ( et seq.)”.

Pub. L. 105–135, § 231(1)1997—Subsec. (a). , inserted heading.

Pub. L. 105–135, § 231(2)Subsec. (a)(1). , inserted heading, designated existing provisions as subpar. (A) and inserted heading, and added subpar. (B).

Pub. L. 105–135, § 706Subsec. (a)(8). , added par. (8).

Pub. L. 105–135, § 201(c)Subsec. (m). , struck out “Demonstration” and “demonstration” wherever appearing in heading and text.

Pub. L. 105–135, § 202(a)(1)Subsec. (m)(1)(A)(iv). , added cl. (iv).

Pub. L. 105–135, § 201(a)Subsec. (m)(3)(C). , substituted “$3,500,000” for “$2,500,000”.

Pub. L. 105–135, § 201(b)Subsec. (m)(3)(D)(i), (ii). , added cls. (i) and (ii) and struck out former cls. (i) and (ii) which read as follows:

“(i) in the first year of the intermediary’s participation in the demonstration program, at a level equal to not more than 15 percent of the outstanding balance of the notes receivable owed to the intermediary; and

“(ii) in each year of participation thereafter, at a level reflecting the intermediary’s total losses as a result of participation in the demonstration program, as determined by the Administration on a case-by-case basis, but in no case shall the required level exceed 15 percent of the outstanding balance of the notes receivable owed to the intermediary under the program.”

Pub. L. 105–135, § 201(d)(1)Subsec. (m)(4)(E). , designated existing provisions as cl. (i), inserted heading, substituted “25 percent” for “15 percent”, and added cl. (ii).

Pub. L. 105–135, § 202(a)(2)Subsec. (m)(4)(F). , added subpar. (F).

Pub. L. 105–135, § 201(d)(2)Subsec. (m)(5)(A). , struck out “in each of the 5 years of the demonstration program established under this subsection,” after “requirements of subparagraph (B),” and substituted “annually” for “for terms of up to 5 years”.

Pub. L. 105–135, § 202(a)(3)Subsec. (m)(6)(E). , added subpar. (E).

Pub. L. 105–135, § 202(a)(4)(A)Subsec. (m)(9). , substituted “Grants for management, marketing, technical assistance, and related services” for “Technical assistance for intermediaries” in heading.

Pub. L. 105–135, § 202(a)(4)(B)Subsec. (m)(9)(C). , added subpar. (C).

Pub. L. 105–135, § 201(c)(4)Subsec. (m)(12). , substituted “1998 through 2000” for “1995 through 1997”.

Pub. L. 105–135, § 202(a)(5)Subsec. (m)(13). , added par. (13).

Pub. L. 104–208, § 103(a)1996—Subsec. (a)(2)(C)(ii)(II). , amended subcl. (II) generally. Prior to amendment, subcl. (II) read as follows: “authority to service and liquidate such loans.”

Pub. L. 104–208, § 111Subsec. (a)(2)(D). , added subpar. (D).

Pub. L. 104–208, § 103(f)Subsec. (a)(4). , inserted par. (4) heading, designated existing text as subpar. (A) and inserted heading, and added subpar. (B).

Pub. L. 104–208, § 103(b)Subsec. (a)(19)(C). , added subpar. (C).

Pub. L. 104–208, § 103(c)Subsec. (a)(25). , added par. (25).

Pub. L. 104–208, § 103(d)Subsec. (a)(26). , added par. (26).

Pub. L. 104–208, § 107(a)Subsec. (d). , struck out “(1)” before “The Administration” and struck out par. (2) which read as follows: “The Administration is authorized to hold seminars throughout the Nation to make potential applicants aware of the opportunities available under this subsection and related government energy programs, and to make grants to qualified organizations to provide training seminars for small business concerns regarding practical and easily implemented methods for design, manufacture, installation, and servicing of equipment and for providing services listed in paragraph (1) of this subsection, except that recipients of loans made pursuant to this subsection shall not subsequently be eligible for such grants.”

Pub. L. 104–208, § 107(b)Subsec. (e). , amended subsec. (e) generally, substituting “(e) [RESERVED]” for prior provisions of subsec. (e) which read as follows: “The Administration also is empowered to make loans (either directly or in cooperation with banks or other lenders through agreements to participate on an immediate or deferred basis) to assist any firm to adjust to changed economic conditions resulting from increased competition from imported articles, but only if (1) an adjustment proposal of such firm has been certified by the Secretary of Commerce pursuant to the Trade Expansion Act of 1962, (2) the Secretary has referred such proposal to the Administration under that Act and the loan would provide part or all of the financial assistance necessary to carry out such proposal, and (3) the Secretary’s certification is in force at the time the Administration makes the loan. With respect to loans made under this subsection the Administration shall apply the provisions of sections 314, 315, 316, 318, 319, and 320 of the Trade Expansion Act of 1962 as though such loans had been made under section 314 of that Act.”

Pub. L. 104–208, § 107(c)Subsec. (f). , amended subsec. (f) generally, substituting “(f) [RESERVED]” for prior provisions of subsec. (f) which read as follows: “In the administration of the disaster loan program under subsection (b)(1) of this section, in the case of property loss or damage as a result of a disaster which is a ‘major disaster’ as defined in section 102(2) of the Disaster Relief and Emergency Assistance Act, the Small Business Administration, to the extent such loss or damage is not compensated for by insurance or otherwise, may lend to a privately owned college or university without regard to whether the required financial assistance is otherwise available from private sources, and may waive interest payments and defer principal payments on such a loan for the first three years of the term of the loan.”

lPub. L. 104–208, § 107(c)lllSubsec. (). , amended subsec. () generally, substituting “() [RESERVED]” for prior provisions of subsec. () which consisted of 9 pars. authorizing loans to small business concerns for solar energy and energy conservation measures.

Pub. L. 104–208, § 105Subsec. (m)(7)(B). , inserted at end “If, however, at the beginning of the fourth quarter of a fiscal year the Administration determines that a portion of appropriated microloan funds are unlikely to be awarded during that year, the Administration may make additional funds available to a State in excess of 125 percent of the pro rata share of that State.”

Pub. L. 104–36, § 21995—Subsec. (a)(2). , amended par. (2) generally. Prior to amendment, par. (2) related to percentage levels in loan participation agreements.

Pub. L. 104–36, § 3(a)Subsec. (a)(18). , amended par. (18) generally. Prior to amendment, par. (18) read as follows: “The Administration shall collect a guarantee fee equal to two percent of the amount of the deferred participation share of any loan under this subsection other than a loan repayable in one year or less. The fee shall be payable by the participating lending institution and may be charged to the borrower.”

Pub. L. 104–36, § 3(b)(1)Subsec. (a)(19)(B). , substituted “shall develop” for “shall (i) develop” and struck out at end “, and (ii) allow such lenders to retain one-half of the fee collected pursuant to subsection (a)(18) of this section on such loans. A participating lender may not retain any fee pursuant to this paragraph if the amount committed and outstanding to the applicant would exceed $50,000 unless the amount in excess of $50,000 is an amount not approved under the provisions of this paragraph”.

Pub. L. 104–36, § 3(b)(2)October 1, 1995Subsec. (a)(19)(C). , struck out subpar. (C) which read as follows: “In order to encourage lending institutions and other entities making loans authorized under this subsection to provide loans to small business loan applicants located in rural areas, such lenders shall be permitted to retain one-half of the fee collected pursuant to paragraph (18) on loans of less than $75,000. A participating lender may not retain any fee pursuant to this subparagraph if the amount committed and outstanding to the applicant would exceed $75,000 unless the amount in excess of $75,000 is an amount not approved under the provisions of this subparagraph. This subparagraph shall cease to be effective on .”

Pub. L. 104–36, § 4(a)Subsec. (a)(23). , added par. (23).

Pub. L. 104–36, § 5Subsec. (a)(24). , added par. (24).

Pub. L. 103–403, § 2111994—Subsec. (a)(2)(B)(iv). , amended cl. (iv) generally. Prior to amendment, cl. (iv) read as follows: “not less than 85 percent of the financing outstanding at the time of disbursement if such financing is a loan under paragraph (16).”

Pub. L. 103–403, § 210Subsec. (a)(3)(B). , amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “if the total amount outstanding and committed (on a deferred basis) solely for the purposes provided in paragraph (16) to the borrower from the business loan and investment fund established by this chapter would exceed $1,000,000, such amount to be in addition to any financing solely for working capital, supplies, or revolving lines of credit for export purposes up to a maximum of $250,000; and”.

Pub. L. 103–403, § 209Subsec. (a)(14)(A). , amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “The Administration under this subsection may provide extensions and revolving lines of credit for export purposes and financing to enable small business concerns, including small business export trading companies and small business export management companies, to develop foreign markets. No such extension or revolving line of credit may be made for a period or periods exceeding 3 years. A bank or participating lending institution may establish the rate of interest on extensions and revolving lines of credit as may be legal and reasonable.”

Pub. L. 103–403, § 605(a)Subsec. (a)(21)(A). , inserted “on a guaranteed basis” before “under the authority”.

Pub. L. 103–403, § 603Subsec. (a)(21)(E). , added subpar. (E).

Pub. L. 103–403, § 206Subsec. (m)(3)(C). , substituted “$2,500,000” for “$1,250,000”.

Pub. L. 103–403, § 208(a)(1)Subsec. (m)(4)(B). , (c), temporarily inserted “except for a grant made to an intermediary that provides not less than 50 percent of its loans to small business concerns located in or owned by one or more residents of an economically distressed area,” after “under subparagraph (A),”. See Effective and Termination Dates of 1994 Amendment note below.

Pub. L. 103–403, § 208(a)(2)Subsec. (m)(4)(C)(i). , (c), temporarily added cl. (i) which read as follows: “In addition to grants made under subparagraph (A), each intermediary shall be eligible to receive a grant equal to 5 percent of the total outstanding balance of loans made to the intermediary under this subsection if—

“(I) the intermediary provides not less than 25 percent of its loans to small business concerns located in or owned by one or more residents of an economically distressed area; or

“(II) the intermediary has a portfolio of loans made under this subsection that averages not more than $7,500 during the period of the intermediary’s participation in the program.”

See Effective and Termination Dates of 1994 Amendment note below.

Pub. L. 103–403, § 207Subsec. (m)(4)(E). , added subpar. (E).

Pub. L. 103–403, § 204Subsec. (m)(7). , amended par. (7) generally, substituting present provisions for former provisions relating to program funding, which provided for: in subpar. (A), first year programs; in subpar. (B), expanded programs; and in subpar. (C), State limitations.

Pub. L. 103–403, § 205Subsec. (m)(8). , amended heading and text of par. (8) generally. Prior to amendment, text read as follows: “In funding microloan programs, the Administration shall ensure that at least one-half of the programs funded under this subsection will provide microloans to small business concerns located in rural areas.”

Pub. L. 103–403, § 604Subsec. (m)(9)(B). , inserted “and loan guarantees” after “for loans” and “and national and regional nonprofit organizations that have demonstrated experience in providing training support for microenterprise development and financing.” after “experienced microlending organizations”.

Pub. L. 103–403, § 202Subsec. (m)(11)(A)(v). , added cl. (v).

Pub. L. 103–403, § 208(b)Subsec. (m)(11)(C), (D). , (c), temporarily substituted “; and” for period at end of subpar. (C) and added subpar. (D) which read as follows: “the term ‘economically distressed area’, as used in paragraph (4), means a county or equivalent division of local government of a State in which the small business concern is located, in which, according to the most recent data available from the Bureau of the Census, Department of Commerce, not less than 40 percent of residents have an annual income that is at or below the poverty level.”. See Effective and Termination Dates of 1994 Amendment note below.

Pub. L. 103–403, § 201Subsec. (m)(12). , added par. (12).

Pub. L. 103–81, § 5(a)(2)1993—Subsec. (a)(2). –(4), in concluding provisions, substituted “less than the above specified percentums” for “less than 85 percent under subparagraph (B)” and “not less than 70 percent, unless a lesser percent is required by clause (B)(ii) or upon the” for “not less than 80 percent, except upon” and inserted after third sentence “The maximum interest rate for a loan guaranteed under the Preferred Lenders Program shall not exceed the maximum interest rate, as determined by the Administration, which is made applicable to other loan guarantees under subsection (a) of this section.”

Pub. L. 103–81, § 5(a)(1)Subsec. (a)(2)(B). , struck out “and” at end of cl. (i), added cls. (ii) and (iii), and redesignated former cl. (ii) as (iv).

Pub. L. 103–81, § 4Subsec. (a)(22). , added par. (22).

Pub. L. 103–81, § 8(1)Subsec. (m)(1)(B)(iii). , substituted “$25,000” for “$15,000”.

Pub. L. 103–81, § 8(2)Subsec. (m)(5)(A). , substituted “25 grants for terms of up to 5 years” for “6 grants”.

Pub. L. 103–81, § 8(3)Subsec. (m)(9)(B). , substituted “7 percent” for “3 percent”.

Pub. L. 102–366, § 1041992—Subsec. (a)(4). , substituted “Notwithstanding the provisions of the constitution of any State or the laws of any State limiting the rate or amount of interest which may be charged, taken, received, or reserved, the maximum legal rate of interest on any financing made on a deferred basis pursuant to this subsection” for “The rate of interest on financings made on a deferred basis shall be legal and reasonable but”.

Pub. L. 102–366, § 211Subsec. (a)(21). , added par. (21).

Pub. L. 102–366, § 113(a)(1)(A)Subsec. (m)(1)(A)(i). , amended cl. (i) generally, substituting “and business owners and other such individuals” for “, business owners, and other individuals”.

Pub. L. 102–366, § 113(a)(1)(B)Subsec. (m)(1)(A)(iii)(I). , inserted “, particularly loans in amounts averaging not more than $7,500,” after “small-scale loans”.

Pub. L. 102–366, § 113(a)(2)Subsec. (m)(3)(A). , designated existing provisions as cl. (i) and inserted heading, redesignated cls. (i) to (viii) as subcls. (I) to (VIII), respectively, substituted “economic, poverty, and unemployment” for “economic and unemployment” in subcl. (III), amended subcl. (VIII) generally, and added cl. (ii). Prior to amendment, subcl. (VIII) read as follows: “any plan to involve private sector lenders in assisting selected small business concerns.”

Pub. L. 102–366, § 113(a)(3)Subsec. (m)(3)(F). , amended subpar. (F) generally. Prior to amendment, subpar. (F) read as follows: “Loans made by the Administration under this subsection shall be for a term of 10 years and at an interest rate equal to the rate determined by the Secretary of the Treasury for obligations of the United States with a period of maturity of 5 years, adjusted to the nearest one-eighth of 1 percent.”

Pub. L. 102–366, § 113(a)(4)(B)Subsec. (m)(4)(A). , added subpar. (A) and struck out former subpar. (A) which read as follows: “Except as otherwise provided in subparagraph (C) and subject to the requirements of subparagraph (B), each intermediary that receives a loan under subparagraph (B)(i) of paragraph (1) shall be eligible to receive a grant to provide marketing, management, and technical assistance to small business concerns that are borrowers under this subsection. In the first and second years of an intermediary’s program participation, each intermediary meeting the requirement of subparagraph (B) may receive a grant of not more than 20 percent of the total outstanding balance of loans made to it under this subsection. In the third and subsequent years of an intermediary’s program participation, each intermediary meeting the requirements of subparagraph (B) may receive a grant of not more than 10 percent of the total outstanding balance of loans made to it under this subsection.”

Pub. L. 102–366, § 113(a)(4)(A), substituted “Except as otherwise provided in subparagraph (C) and subject to” for “Subject to”.

Pub. L. 102–366, § 113(a)(4)(C)Subsec. (m)(4)(B). , substituted “25 percent” for “one-half”.

Pub. L. 102–366, § 113(a)(4)(D)Subsec. (m)(4)(C), (D). , added subpars. (C) and (D).

Pub. L. 102–366, § 113(a)(5)Subsec. (m)(5)(A). , substituted “6 grants” for “2 grants”.

Pub. L. 102–366, § 113(a)(6)Subsec. (m)(6)(C). , amended subpar. (C) generally. Prior to amendment, subpar. (C) read as follows: “Notwithstanding any provision of the laws of any State or the constitution of any State pertaining to the rate or amount of interest that may be charged, taken, received or reserved on a loan, the maximum rate of interest to be charged on a microloan funded under this subsection shall be not more than 4 percentage points above the prime lending rate, as identified by the Administration and published in the Federal Register on a quarterly basis.”

Pub. L. 102–564, § 307(b)(1)Subsec. (m)(7)(A). , inserted at end: “If, at the end of fiscal year 1992, the Administration has funded less than 50 microloan programs under this subparagraph, the Administration may, in fiscal year 1993, fund a number of additional microloan programs equal to the difference between 50 and the number of microloan programs actually funded in fiscal year 1992.”

Pub. L. 102–366, § 113(a)(7)(A), substituted “60 microloan programs” for “35 microloan programs”.

Pub. L. 102–564, § 307(b)(2)Subsec. (m)(7)(B). , substituted “In addition to any microloan programs authorized to be funded in fiscal year 1993 in accordance with subparagraph (A), in the second” for “In the second”.

Pub. L. 102–366, § 113(a)(7)(B), substituted “50 additional” for “25 additional”.

Pub. L. 102–366, § 113(a)(7)(C)Subsec. (m)(7)(C)(i). , amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: “be awarded more than 2 microloan programs in any year of the demonstration program;”.

Pub. L. 102–366, § 113(a)(7)(D)Subsec. (m)(7)(C)(ii), (iii). , (E), substituted “$1,500,000” for “$1,000,000” in cl. (ii) and “$2,500,000” for “$1,500,000” in cl. (iii).

Pub. L. 102–366, § 113(a)(8)Subsec. (m)(9), (10). , (9), added par. (9) and redesignated former par. (9) as (10). Former par. (10) redesignated (11).

Pub. L. 102–564, § 307(c)Subsec. (m)(11). , inserted “private,” before “nonprofit” in subpar. (A)(ii).

Pub. L. 102–366, § 113(a)(8), (10), redesignated par. (10) as (11) and amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “the term ‘intermediary’ means a private, nonprofit entity or a nonprofit community development corporation that seeks to borrow or has borrowed funds from the Small Business Administration to make microloans to small business concerns under this subsection;”.

Pub. L. 102–140, § 609(b)1991—Subsec. (a)(18). , struck out “or a loan under paragraph (13)” after “one year or less”.

Pub. L. 102–191Subsec. (a)(19)(B). struck out “during fiscal years 1989, 1990, and 1991,” after “small business loan applicants,”.

Pub. L. 102–140, § 609(h)Subsec. (m). , added subsec. (m).

Pub. L. 101–574, § 2021990—Subsec. (a)(14)(A). , struck out “pre-export” before “financing” and substituted “3 years” for “18 months”.

Pub. L. 101–574, § 245Subsec. (a)(16)(A). , struck out at end “The lender shall agree to sell the loan in the secondary market as authorized in sections 634(f) and 634(g) of this title within 180 days of the date of disbursement.”

Pub. L. 101–574, § 307Subsec. (a)(19)(C). , added subpar. (C).

Pub. L. 101–574, § 242(1)Pub. L. 100–656, § 505(h)Subsec. (j)(3)(A). , struck out subpar. (A), which was previously struck out by . See 1988 Amendment note below.

Pub. L. 101–574, § 242(1)January 1, 1981Subsec. (j)(3)(B). , struck out subpar. (B) which read as follows: “The General Accounting Office shall evaluate the activities taken by the Administration to achieve the purpose of this paragraph and evaluate the success of these activities in achieving the purposes of this paragraph. The General Accounting Office shall report to the Congress by , and at any time thereafter at the discretion of the Comptroller General, on the findings of this evaluation and shall make recommendations on actions needed to improve the Administration’s performance pursuant to this paragraph.”

Pub. L. 101–574, § 242(2)section 637(a) of this titleJanuary 1, 1981Subsec. (j)(8). , struck out par. (8) which read as follows: “The General Accounting Office shall provide for an independent and continuing evaluation of programs under subsections (i) and (j) of this section and , including full information on, and analysis of, the character and impact of managerial assistance provided, the location, income characteristics, and extent to which private resources and skills have been involved in these programs. Such evaluation together with any recommendations deemed advisable by the Comptroller General shall be reported to the Congress by , and at any time thereafter at the discretion of the Comptroller General.”

Pub. L. 101–574, § 204(a)section 637(a) of this titleSubsec. (j)(10)(J)(ii). , amended cl. (ii) generally. Prior to amendment, cl. (ii) read as follows: “Except as provided under section 602 of the Business Opportunity Development Reform Act of 1988, no award shall be made pursuant to to other than a small business concern.”

Pub. L. 101–574, § 206October 1, 1994October 1, 1992Subsec. (j)(13)(D)(iii). , substituted “” for “”.

Pub. L. 101–162, title V1989—Subsec. (a)(2). , (1), amended par. (2) generally. Prior to amendment, par. (2) read as follows: “In agreements to participate in loans on a deferred basis under this subsection, such participation by the Administration, except as provided in paragraph (6), shall be:

“(A) not less than 90 per centum of the balance of the financing outstanding at the time of disbursement if such financing does not exceed $155,000; and

“(B) subject to the limitation in paragraph (3)—

“(i) not less than 70 per centum nor more than 85 per centum of the financing outstanding at the time of disbursement if such financing exceeds $155,000 but is less than $714,285,

“(ii) less than 70 per centum of the financing outstanding at the time of disbursement if such financing exceeds $714,285;

“(iii) not less than 85 per centum of the financing outstanding at the time of disbursement if such financing is a loan under paragraph (16) and is less than $1,176,470; and

“(iv) less than 85 per centum of the financing outstanding at the time of disbursement if such financing is a loan under paragraph (16) and exceeds $1,176,470;

Pub. L. 101–162, title Vsection 634(b)(7) of this titleProvidedProvided furtherprovided furtherSubsec. (a)(19). , (2), amended par. (19) generally. Prior to amendment, par. (19) read as follows: “During fiscal years 1989, 1990, and 1991, in addition to the preferred lenders program authorized by the proviso in , the Administration is authorized to establish a certified loan program for lenders who establish their knowledge of Administration laws and regulations concerning the loan guarantees program and their proficiency in program requirements. In order to encourage certified lenders and preferred lenders to provide loans of $50,000 or less in guarantees to eligible small business loan applicants, the Administration (A) shall develop and shall allow participating lenders in the certified loan program and in the preferred loan program to solely utilize a uniform and simplified loan form for such loans and (B) shall allow such lenders to retain one-half of the fee collected pursuant to subsection (a)(16) of this section on such loans: , That a participating lender may not retain any fee pursuant to this paragraph if the amount committed and outstanding to the applicant would exceed $50,000 unless such excess amount was not approved under the provisions of this paragraph. The designation of a lender as a certified lender shall be suspended or revoked at any time that the Administration determines that the lender is not adhering to its rules and regulations or if the Administration determines that the loss experience of the lender is excessive as compared to other lenders: , That any suspension or revocation of the designation shall not affect any outstanding guarantee: And, , That the Administration may not reduce the per centum of guarantee as a criterion of eligibility for participation in this program, except as otherwise provided by law.”

Pub. L. 101–37, § 9Subsec. (a)(20)(C)(iv). , inserted “is” before “amortized”.

Pub. L. 101–37, § 5(a)Subsec. (j)(10)(A)(i). , substituted “which set forth” for “which sets forth”.

Pub. L. 101–37, § 5(b)(1)Subsec. (j)(10)(D)(i). , substituted “Business Opportunity Specialist” for “business opportunity specialist”.

Pub. L. 101–37, § 5(b)(2)Subsec. (j)(10)(D)(ii)(II). , substituted “the small business concern” for “small business concerns”.

Pub. L. 101–37, § 5(b)(3)section 637(a) of this titleSubsec. (j)(10)(D)(iii). , inserted “relating to attaining business activity from sources other than contracts awarded pursuant to ” after “subparagraph (I)”.

Pub. L. 101–37, § 5(b)(4)Subsec. (j)(10)(D)(iv). , substituted “contract awards” for “contact awards”.

Pub. L. 101–37, § 5(b)(5)section 637(a) of this titleSubsec. (j)(10)(D)(iv)(I). , inserted “relating to attaining business activity from sources other than contracts awarded pursuant to ” after “subparagraph (I)”.

Pub. L. 101–37, § 7(a)(1)Subsec. (j)(10)(E)(ii). , substituted “completes the period of Program participation as prescribed by paragraph (15)” for “participates in the Program for a period in excess of the time limits prescribed by paragraph (15)”.

Pub. L. 101–37, § 7(a)(2)section 637(a) of this titleSubsec. (j)(10)(F). , struck out subpar. (F) appearing first, which read as follows: “For the purposes of this subsection and , the terms ‘terminated’ or ‘termination’ shall mean the total denial”.

Pub. L. 101–37, § 7(a)(3)section 637(a) of this titlesection 637(a) of this title, in subpar. (F) appearing second, inserted first sentence and struck out former first sentence which read as follows: “For the purposes of this chapter, this subsection and , the terms ‘terminated’ or ‘termination’ shall mean the total denial or suspension of assistance provided pursuant to this paragraph or prior to the graduation of the participating small business concern pursuant to subparagraph (H) or the expiration of the maximum program participation in terms prescribed by paragraph (15).”

Pub. L. 101–37, § 10(b)Subsec. (j)(10)(I). , designated as subpar. (I) the undesignated subpar. which followed subpar. (H).

Pub. L. 101–37, § 10(a)Pub. L. 100–656, § 303(a), made technical correction to directory language of , see 1988 Amendment note below.

Pub. L. 101–37, § 6(a)Subsec. (j)(10)(J)(i). , substituted “suspended” for “suspended or terminated”.

Pub. L. 101–37, § 4(1)section 637(a)(4) of this titlesection 637(a) of this titleJune 1, 1989June 1, 1989Subsec. (j)(11)(B). , added subpar. (B) and struck out former subpar. (B) which read as follows: “Except as provided in section 602(d) of the Business Opportunity Development Reform Act of 1988, any individual upon whom eligibility is based pursuant to , shall be permitted to assert such eligibility for only one small business concern. Notwithstanding the provisions of the preceding sentence, no individual who was determined pursuant to to be socially and economically disadvantaged before , shall be permitted to assert such disadvantage with respect to any other concern making application for certification after .”

Pub. L. 101–37, § 4(2)Subsec. (j)(11)(E). , (3), substituted “Office of Minority Small Business” for “Office of the Associate Administrator for Minority Small Business” and “the Associate Administrator for Minority Small Business and Capital Ownership Development” for “such Associate Administrator”.

Pub. L. 101–37, § 4(4)Subsec. (j)(11)(F)(v). , substituted “to the Associate Administrator” for “with the Associate Administrator”.

Pub. L. 101–37, § 4(5)Subsec. (j)(11)(F)(vi). , added cl. (vi) and struck out former cl. (vi) which read as follows: “decide protests from applicants that have been denied program admission;”.

Pub. L. 101–37, § 4(6)Subsec. (j)(11)(F)(viii). , substituted “subparagraph (I)” for “subparagraph (H)”.

Pub. L. 101–37, § 4(7)Subsec. (j)(11)(G)(ii). , substituted “Participants” for “participants”.

Pub. L. 101–37, § 4(9)Subsec. (j)(11)(H), (I). , added subpar. (H) and redesignated former subpar. (H) as (I).

Pub. L. 101–37, § 8(a)(1)Subsec. (j)(12)(A). , substituted “developmental” for “development”.

Pub. L. 101–37, § 8(a)(2)Subsec. (j)(12)(B). , inserted “in its effort” after “to assist the concern”.

Pub. L. 101–37, § 8(b)section 647(a) of this titleSubsec. (j)(13)(E). , inserted second sentence and struck out former second sentence which read as follows: “Such financial assistance may be made without regard to , shall be made by way of reimbursement to the training provider, and shall have such adjustments as may be necessary to provide for overpayments or underpayments.”

Pub. L. 100–590, § 1031988—Subsec. (a)(2). , inserted “, but any such reduction shall not exceed five points” after “any successor thereto” in second proviso.

Pub. L. 100–418, § 8007(a)(1)Subsec. (a)(2)(B)(iii), (iv). , added cls. (iii) and (iv).

Pub. L. 100–418, § 8007(a)(2)ProvidedSubsec. (a)(3). , amended par. (3) generally. Prior to amendment, par. (3) read as follows: “No loan under this subsection shall be made if the total amount outstanding and committed (by participation or otherwise) to the borrower from the business loan and investment fund established by this chapter would exceed $500,000: , That no such loan made or effected either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate basis shall exceed $350,000.”

Pub. L. 100–590, § 111(c)Subsec. (a)(12). , designated existing provisions as subpar. (A) and added subpar. (b)[(B)].

Pub. L. 100–418, § 8005Provided, howeverSubsec. (a)(14). , amended par. (14) generally. Prior to amendment, par. (14) read as follows: “The Administration under this subsection may provide extensions and revolving lines of credit for export purposes to enable small business concerns to develop foreign markets and for preexport financing: , That no such extension or revolving line of credit may be made for a period or periods exceeding eighteen months. A bank or participating lending institution may establish the rate of interest on extensions and revolving lines of credit as may be legal and reasonable.”

Pub. L. 100–418, § 8007(a)(3)Subsec. (a)(16) to (18). , (4), added pars. (16) and (17) and redesignated former par. (16) as (18).

Pub. L. 100–533Pub. L. 100–590, § 102(a)Subsec. (a)(19). and , made identical amendments adding par. (19).

Pub. L. 100–656, § 302Subsec. (a)(20). , added par. (20).

Pub. L. 100–590Subsec. (b)(1)(A). , §§ 119(a), 121, substituted “natural or other disasters” for “floods, riots or civil disorders, or other catastrophes” and inserted proviso that Administration may increase loan up to additional 20 per centum to protect damaged or destroyed property from possible future disasters.

Pub. L. 100–707, § 109(f)(1)September 30, 195042 U.S.C. 1855–185Subsec. (b)(2)(A). , substituted “the Disaster Relief and Emergency Assistance Act” for “the Act entitled ‘An Act to authorize Federal assistance to States and local governments in major disasters, and for other purposes’, approved , as amended (5g)”.

Pub. L. 100–707, § 109(f)(2)section 315 of Public Law 93–28842 U.S.C. 5155Subsec. (b)(E). , substituted “section 312(a) of the Disaster Relief and Emergency Assistance Act” for “subsection (b) of ()”.

Pub. L. 100–590, § 120(b)Subsec. (c)(5)(C). , substituted “business or other concern, including agricultural cooperatives,” for “business concern”.

Pub. L. 100–590, § 122Provided furtherSubsec. (c)(6). , substituted “refinancing: , That the Administration shall not require collateral for loans of $10,000 or less which are made under paragraph (1) of subsection (b)”. for “refinancing”.

Pub. L. 100–590, § 120(a)Subsec. (c)(7). , added par. (7).

Pub. L. 100–707, § 109(f)(3)section 2(a) of the Act of September 30, 195042 U.S.C. 1855a(a)Subsec. (f). , substituted “section 102(2) of the Disaster Relief and Emergency Assistance Act” for “ ()”.

Pub. L. 100–656, § 505(h)Subsec. (j)(3)(A). , struck out subpar. (A) which read as follows: “An advisory committee composed of five high-level officers from five United States businesses and five representatives of minority small businesses shall be created to facilitate the achievement of the purposes of this paragraph. The members of the advisory committee shall be appointed by the President. The chairman of the advisory committee, who shall be designated by the President shall report annually to the President and to the Congress on the activities of the advisory committee.”

Pub. L. 100–656, § 205(a)section 637(a)(6) of this titleProvidedProvided furthersection 637(a)(9) of this titleSubsec. (j)(10)(A)(i). , amended cl. (i) generally. Prior to amendment, cl. (i) read as follows: “assist small business concerns participating in the Program to develop comprehensive business plans with specific business targets, objectives, and goals for correcting the impairment of such concern’s ability to compete, as determined for such concern pursuant to , within a fixed period of time as mutually agreed upon by the applicant and the Administrator prior to acceptance in such program: , That not less than one year prior to the expiration of such period, and upon the request of such concern, the Administration shall review such period and may extend such period as necessary and appropriate: , That no determination made under this paragraph shall be considered a denial of total participation for the purposes of ;”.

Pub. L. 100–656, § 205(b)(1)section 637(a) of this titleSubsec. (j)(10)(C). , (2), redesignated subpar. (D) as (C) and struck out former subpar. (C) which read as follows: “No small business concern shall receive a contract pursuant to unless—

“(i) the business plan required pursuant to paragraph (10)(A)(i) is approved by the Administration; and

“(ii) the program is able to provide such concern with, but not limited to, such management, technical and financial services as may be necessary to achieve the targets, objectives, and goals of such business.”

Pub. L. 100–656, § 205(b)(2)Subsec. (j)(10)(D). , (3), added subpar. (D). Former subpar. (D) redesignated (C).

Pub. L. 100–656, § 203, added subpar. (D).

Pub. L. 100–656, § 208Subsec. (j)(10)(E) to (H). , added subpars. (E) to (H).

Pub. L. 100–656, § 303(a)Pub. L. 101–37, § 10(a)Subsec. (j)(10)[(I)]. , as amended by , added new subpar. without subpar. designation, but which probably was intended to be subpar. (I). See 1989 Amendment note above.

Pub. L. 100–656, § 206Subsec. (j)(10)(J). , added subpar. (J).

Pub. L. 100–656, § 201(a)Subsec. (j)(11). , designated existing provisions as subpar. (A) and added subpars. (B) to (H).

Pub. L. 100–656, § 301(a)Subsec. (j)(12). , added par. (12).

Pub. L. 100–656, § 301(b)Subsec. (j)(13). , added par. (13).

Pub. L. 100–656, § 301(c)Subsec. (j)(14). , added par. (14).

Pub. L. 100–656, § 202Subsec. (j)(15). , added par. (15).

Pub. L. 100–656, § 408Subsec. (j)(16). , added par. (16).

Pub. L. 99–272, § 180131986—Subsec. (a)(2). , in subpar. (A) substituted “$155,000” for “$100,000”, in subpar. (B)(i) substituted “$155,000” for “$100,000” and “85” for “90”, in proviso following subpar. (B) substituted “85” for “90”, and inserted a second proviso relating to reduction by the Administration of its participation below the per centum stated in this paragraph and defining “preferred lenders program”.

Pub. L. 99–514Subsec. (a)(15)(B)(i). substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954”, which for purposes of codification was translated as “title 26” thus requiring no change in text.

Pub. L. 99–272, § 18007Subsec. (a)(16). , added par. (16).

Pub. L. 99–272, § 18006(a)(1)section 647(b)(1) of this titleSubsec. (b). , in provision preceding par. (1) substituted “Except as to agricultural enterprises as defined in , the,” for “The”, struck out par. (3) which authorized loans, each one not to exceed $500,000, to any small business concern to effect continuation of, additions to, alterations in, or reestablishment in the same or a new location of its plant, facilities, or methods or operation caused by direct action of the Federal Government or as a consequence of Federal Government action provided that the applicant was unable to obtain credit elsewhere, and struck out par. (4) which authorized disaster loans, each one not to exceed $100,000, to any small business concern located in an area of economic dislocation that was the result of the drastic fluctuation in the value of the currency of a country contiguous to the United States and adjustments in the regulation of its monetary system if such concern was unable to obtain credit elsewhere.

Pub. L. 99–272, § 18006(a)(2)Subsec. (c)(4). , struck out provision following subpar. (D) which provided that loans, subject to reductions under subpars. (A) and (B) of par. (1), be in amounts equal to 100 percent of loss if the applicant was a homeowner and 85 percent if the applicant was a business or otherwise, the interest rate for loans under pars. (1) and (2) be the rate of interest in effect on the date the disaster commenced, and the Administrator, in his discretion, waive the $500,000 limitation on the total amount outstanding and committed to the borrower under this subsection if the applicant constituted a major source of employment in an area suffering a disaster.

Pub. L. 98–270, § 311(1)1984—Subsec. (b)(2). , (3), substituted in provisions preceding subpar. (A) “small business concern or small agricultural cooperative” for “small business concern” and “the concern or the cooperative” for “the concern”.

Pub. L. 98–270, § 311(2)Subsec. (b)(2)(D). , substituted “small business concerns or small agricultural cooperatives” for “small business concerns”.

Pub. L. 98–270, § 308Subsec. (b)(3). , inserted “continuation of,” after “in effecting” and inserted provision directing that, for purposes of this paragraph, the impact of the 1983 Payment-in-Kind Land Diversion program, or any successor Payment-in-Kind program with a similar impact on the small business community, be deemed to be a consequence of Federal Government action.

Pub. L. 98–270, § 304(2)Subsec. (b)(4). , added par. (4).

Pub. L. 98–270, § 301Subsec. (c). , added undesignated par. following par. (6).

Pub. L. 98–270, § 301Subsec. (c)(5). , added par. (5).

Pub. L. 98–270, § 301Subsec. (c)(6). , added par. (6).

Pub. L. 98–270, § 309, inserted provision directing that employees of concerns sharing common business premises be aggregated in determining “major source of employment” status for nonprofit applicants owning such premises.

Pub. L. 98–395October 1, 1980Subsec. (d)(1). substituted provisions stating that the Administration shall not fund any Small Business Development Center except as authorized for former provisions which prohibited such funding only after .

Pub. L. 97–35, § 19021981—Subsec. (a). , substituted provisions empowering the Administration to the extent and in such amounts as provided in advance in appropriation acts, for plant acquisition, construction, conversion, or expansion, including the acquisition of land, material, supplies, equipment, and working capital, and to make loans to qualified small business concerns including those owned by qualified Indian tribes, for purposes of this chapter, and that financing may be made either directly or in cooperation with banks or other financial institutions through agreements to participate on an immediate or deferred basis for provisions empowering the Administration to make loans to enable small business concerns and such concerns wholly owned by Indian tribes to finance plant construction, conversion, or expansion, including the acquisition of land, or to finance residential or commercial construction or rehabilitation, for sale, with a proviso that such loans shall not be used primarily for the acquisition of land, or to finance the acquisition of equipment, facilities, machinery, supplies, or materials, or to supply such concerns with working capital to be used in the manufacture of articles, equipment, supplies, or materials for war, defense, or civilian production or as may be necessary to insure a well-balanced national economy, and that such loans may be made or effected either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis.

Pub. L. 97–35, § 1910Subsec. (a)(6)(C). , repealed subpar. (C) which read as follows: “the Administration shall not decline to participate in a loan on a deferred basis under this subsection solely because such loan will be used to refinance all or any part of the existing indebtedness of a small business concern, unless the Administration determines that—

“(i) the holder of such existing indebtedness is in a position likely to sustain a loss if such refinancing is not provided, and

Provided further“(ii) if the Administration provides such refinancing through an agreement to participate on a deferred basis, it will be in a position likely to sustain part or all of any loss which would have otherwise been sustained by the holder of the original indebtedness: , That the Administration may decline to approve such refinancing if it determines that the loan will not benefit the small business concern.”

Pub. L. 97–35, § 1910ProvidedAnd provided furtherSubsec. (a)(8). , repealed par. (8) which read as follows: “(8)(A) Any loan made under the authority of this subsection by the Administration in cooperation with a bank or other lending institution through an agreement to participate on a deferred basis, may, upon the concurrence of the Administration, borrower and such bank or institution, have the term of such loan extended or such loan refinanced with an extension of its term: , That the aggregate term of such extended or refinanced loan does not exceed the term permitted pursuant to paragraph (5): , That such extended loans, or refinancings shall be repaid in equal installments of principal and interest.

“(B) An additional service fee not exceeding 1 per centum of the outstanding amount of the principal may be paid by the borrower to the lender in consideration for such lender extending the term or refinancing of such borrower’s indebtedness if such extension or refinancing results in the term of such indebtedness exceeding ten years.

“(C) The authority provided in this paragraph shall not be construed to otherwise limit the authority of the Administration to set terms and conditions of the loan.”

Pub. L. 97–35, § 1911Subsec. (b)(1). , revised provisions to specifically authorize loans only to repair, rehabilitate, or replace property, real or personal, damaged or destroyed, and is not compensated for by insurance or otherwise, and to refinance any mortgage or other lien against a totally destroyed or substantially damaged home or business concern upon finding that the applicant is not able to obtain credit elsewhere, that such property is to be repaired, rehabilitated, or replaced, that the amount refinanced shall not exceed the loss, and that the amount shall be reduced to the extent such mortgage or lien is satisfied by insurance or otherwise.

Pub. L. 97–35, § 1911Subsec. (b)(2). , revised provisions to continue to authorize loans to business concerns which the Administration determines to have suffered substantial economic injury as a result of a physical disaster as declared under certain pertinent triggering legislation.

Pub. L. 97–35, § 1913(a)Subsec. (b)(3) to (9). , designated existing provisions of par. (5) as (3) with minor changes, and struck out pars. (3), (4), and (6) to (9) relating to non-physical disaster loans.

Pub. L. 97–35, § 1914October 1, 1983Subsec. (c)(3). , substituted “effective date of this Act” for “to ”.

Pub. L. 97–35, § 1912Subsec. (c)(4). , added par. (4).

Pub. L. 97–35, § 1913(c)Subsec. (g). , repealed subsec. (g) which related to loans to small business concerns for water pollution control facilities.

Pub. L. 96–481, § 1121980—Subsec. (a). , inserted provisions preceding par. (1) empowering the Administration to the extent and in such amounts as are provided in appropriation acts to make or effect either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate or deferred basis extensions and revolving lines of credit for export purposes to enable small business concerns to develop foreign markets and for preexport financing, with proviso limiting the extension of credit or revolving line of credit to a period of eighteen months.

Pub. L. 96–302, § 505Subsec. (a)(8). , added par. (8).

Pub. L. 96–302, § 124Subsec. (b). , which directed that cl. (E), respecting duplication of disaster benefits, be added at end of subsec. (b), was executed by inserting cl. (E) following cl. (D) in next to last par. of subsec. (b) as the probable intent of Congress.

Pub. L. 96–302, § 123Subsec. (b)(4). , substituted “other causes” for “undetermined causes” and made the small business concern ineligible for loan assistance when the concern intentionally adulterates its product in attempting to establish eligibility under the loan assistance program.

Pub. L. 96–302, § 122Subsec. (b)(8). , authorized loans to assist small business concern affected by a shortage of coal or other energy-producing resource caused by a strike, boycott, or embargo, unless the strike, boycott, or embargo is directly against the small business concern.

Pub. L. 96–302, § 119(a)Oct. 1, 1983Oct. 1, 1982Subsec. (c)(3). , (b), added subpar. (C) and extended disaster loans to disasters occurring prior to , instead of .

Pub. L. 96–302, § 203section 648 of this titleOct. 1, 1980Oct. 1, 1979section 648(a) of this titleSubsec. (d)(1). , substituted provisions respecting: funding of small business development centers under on and after ; operation of such centers funded prior to ; and prescribing $300,000 limitation for fiscal year 1980, for such centers funded in fiscal year 1979, for provisions respecting grants for studies research, and counseling concerning the managing, financing, and operation of small-business enterprises; study and research recommendation; and conditions, now covered in .

Pub. L. 96–481, § 104section 637(a) of this titlesection 637(a) of this titleSubsec. (j)(10). , in opening paragraph substituted provision that the program and all other services and activities authorized under this subsection and shall be managed by the Associate Administrator for Minority Small Business and Capital Ownership Development under the Supervision of, and responsible to the Administrator, for provision that the management of the program shall be vested in the Associate Administrator for Minority Small Business and Capital Ownership Development who shall also manage all other services and activities authorized under this subsection and .

Pub. L. 96–481, § 106(a)section 637(a)(6) of this titleProvidedProvided furthersection 637(a)(9) of this titleSubsec. (j)(10)(A)(i). , substituted “targets, objectives, and goals for correcting the impairment of such concern’s ability to compete, as determined for such concern pursuant to , within a fixed period of time as mutually agreed upon by the applicant and the Administrator prior to acceptance in such program: , That not less than one year prior to the expiration of such period, and upon the request of such concern, the Administration shall review such period and may extend such period as necessary and appropriate; , That no determination made under this paragraph shall be considered a denial of participation for the purposes of ” for “targets, objectives and goals”.

Pub. L. 96–481, § 107Subsec. (j)(10)(C). , in the conditions required to receive a contract by a small business concern, substituted provisions that the business plan be approved by the Administration and that the program be able to provide the concern with management, technical and financial services necessary to achieve the targets, objectives and goals of such business, for provision that the program be able to provide the concern with management, technical and financial services as may be necessary to promote the competitive viability of the concern within a reasonable period of time.

Pub. L. 96–381979—Subsec. (b) following par. (9). inserted “, except as provided in subsection (c) of this section,” after “the interest rate on the Administration’s share of any loan made under this subsection” in first unnumbered paragraph.

Pub. L. 96–38Subsec. (c)(3). added par. (3).

Pub. L. 95–507, § 2311978—Subsec. (a). , inserted provision including small-business concerns totally owned and controlled by Indian tribes within the scope of this section.

Pub. L. 95–315, § 3Subsec. (d). , designated existing provisions as par. (1) and added par. (2).

Pub. L. 95–507, § 204section 637(a) of this titleSubsec. (j). , included individuals and enterprises eligible for assistance under par. (10) of this subsection and among those eligible for assistance under this section, provided for the establishment of the small business and capital ownership development program, and provided for the coordination of certain Federal policies under this section by the Associate Administrator for Minority Small Business and Capital Ownership Development.

Pub. L. 95–507, § 205Subsec. (k). , inserted reference to section 637(a).

Pub. L. 95–510section 5332 of title 5Subsec. (k)(4). substituted “the daily equivalent of the highest rate payable under ” for “$100 per diem”.

lPub. L. 95–315, § 2lSubsec. (). , added subsec. ().

Pub. L. 95–89, § 3011977—Subsec. (a). , authorized loans to finance residential or commercial construction or rehabilitation for sale, subject to restriction that such loans be not used primarily for the acquisition of land.

Pub. L. 95–89, § 101(d)June 30, 1975Subsec. (a)(8). , repealed par. (8) which required the Administrator to make direct loans under subsec. (a) in an aggregate amount of not less than $400,000,000 during fiscal year ending .

Pub. L. 95–89, § 405April 1, 1977Subsec. (b). , inserted following par. (9) provisions respecting interest rate on loans to repair or replace primary residence and/or replace or repair damaged or destroyed personal property, including installation of insulation in connection with any disaster occurring on or after , and transmission of a report to congressional committees respecting the activities under the provisions and the encouragement of such insulation installations.

Pub. L. 95–89, § 403Subsec. (b)(2)(C) to (E). , added subpars. (C) to (E).

Pub. L. 95–89, § 402Subsec. (b)(3). , substituted “program or project constructed by or with funds provided in whole or in part by the Federal Government or by a program or project by a State or local government or public service entity, providing such government or public service entity has the authority to exercise the right of eminent domain on such program or project” for “federally aided urban renewal program or a highway project or any other construction constructed by or with funds provided in whole or in part by the Federal Government”.

Pub. L. 95–89, § 302Subsec. (b)(5). , inserted “heretofore or hereafter enacted” after “any Federal law”.

Pub. L. 95–89, § 404Subsec. (b)(9). , added par. (9).

Pub. L. 95–89, § 101(e)Subsec. (g)(4). , repealed par. (4) which authorized appropriation of not to exceed $800,000,000 to the disaster fund solely for purpose of carrying out subsec. (g) loans to small business concerns for water pollution control facilities.

Pub. L. 94–305, § 112(c)1976—Subsec. (a)(1). , inserted reference to non-Federal sources.

Pub. L. 94–305, § 111ProvidedSubsec. (a)(4)(A). , substituted “$500,000: , That no such loan made or effected either directly or in cooperation with banks or other lending institutions through agreements to participate on an immediate basis shall exceed $350,000” for “$350,000”.

Pub. L. 94–305, § 108(b)Subsec. (a)(4)(C). , substituted provision relating to a twenty year maturity period for any portion of loan made for the purpose of acquiring real property or constructing facilities for provision relating to a ten year maturity for portion of loan made for purpose of constructing facilities.

Pub. L. 94–305, § 114Subsec. (b). , in provisions following par. (8), substituted provisions requiring interest rate on Administration’s share of any loan made under this subsection not to exceed the average annual interest rate on all interest-bearing obligations of the United States then forming a part of the public debt for provisions requiring interest rate on Administration’s share of any loan made under this subsection not to exceed 3 per centum per annum except for loans made under pars. (3), (5), (6), (7), or (8) in which the interest will not exceed either 2¾ per centum per annum or the average annual interest rate of all interest-bearing obligations of the United States then forming a part of the public debt.

Pub. L. 94–305, § 112(d)Subsec. (b)(4). , struck out proviso that loans under subsec. (b)(4) of this section include loans to persons who are engaged in business of raising livestock, and who suffer substantial injury as a result of animal disease.

Pub. L. 94–305, § 109Subsec. (i)(1), (3). , substituted “$100,000” for “$50,000”.

Pub. L. 93–386, § 81974—Subsec. (a)(4)(B). , substituted provisions for determining the rate of interest for the Administration’s share of any loan for provisions setting forth the rate of interest for the Administration’s share of any loan as not more than 5½ per centum per annum.

Pub. L. 93–386, § 8Subsec. (a)(5)(B). , substituted provisions for determining the rate of interest for the Administration’s share of any loan for provisions setting forth the rate of interest for the Administration’s share of any loan as not less than 3 nor more than 5 per centum per annum.

Pub. L. 93–386, § 12Subsec. (a)(8). , added par. (8).

Pub. L. 93–237, § 5Subsec. (b)(4). , inserted proviso that loans under this paragraph include loans to persons who are engaged in the business of raising livestock and who suffer substantial economic injury as a result of animal disease.

Pub. L. 93–237Subsec. (b)(5) to (7). , §§ 2(a), (b), 6, consolidated into a single par. (5) the authority of the Small Business Administration contained in former par. (5) to make loans to small business concerns to meet the requirements of the Federal Coal Mine Health and Safety Act of 1969, the Egg Products Inspection Act, the Wholesome Poultry Products Act, and the Wholesome Meat Act, and former par. (6) to make loans to small business concerns to meet the requirements of the Occupational Safety and Health Act of 1970, expanded such authority to finance structural, operational, or other changes required in order to meet standards imposed by Federal laws, or by State laws enacted in conformity with Federal laws, redesignated former par. (7) as par. (6), and added par. (7).

Pub. L. 93–386, § 9(a)Subsec. (b)(8). , added par. (8).

Pub. L. 93–386, § 9(b)Subsec. (b). , substituted “paragraph (3), (5), (6), (7), or (8)” for “paragraph (3), (5), (6), or (7)” in first par. following the numbered pars.

Pub. L. 93–237, § 3(a)Subsecs. (g), (h). , redesignated subsec. (g), relating to loans to handicapped persons and organizations for handicapped, as (h).

Pub. L. 93–386, § 3(2)Subsec. (h)(2). , inserted “The Administration’s share of” before “any loan”.

Pub. L. 93–386, § 2(a)(4)Subsecs. (i) to (k). , added subsecs. (i) to (k).

Pub. L. 92–385January 1, 1971July 1, 19731972—Subsec. (b). added par. (7), and in text following the numbered paragraphs, inserted provisions relating to the administration of the disaster loan program in relation to disasters occurring between , and .

Pub. L. 92–595Subsec. (g). added subsec. (g) relating to loans to handicapped persons and organizations for handicapped.

Pub. L. 92–500 added subsec. (g) relating to loans to small business concerns for water pollution control facilities.

Pub. L. 91–5971970—Subsec. (b). added par. (5) relating to loans for additions or alterations required under the Egg Products Inspection Act, etc., and inserted reference to such par. (5).

Pub. L. 91–596 added par. (6) and inserted reference to par. (6) after reference to par. (5).

Pub. L. 91–1731969—Subsec. (b). added par. (5), and inserted reference to par. (5) after reference to par. (3).

Pub. L. 90–4481968—Subsec. (b)(1). empowered the Administration to make loans because of riots or civil disorders.

Pub. L. 90–495Subsec. (b)(3). added continuing in business at its existing location, purchasing a business, and establishing a new business to the list of purposes for which loans may be made, and extended the causes of substantial economic injury of the concern involved to include its location in, adjacent to, or near a federally aided urban renewal program, highway project, or other construction project using federal funds.

Pub. L. 90–104, § 1031967—Subsec. (a)(4). , extended maturity date for construction loans from ten to fifteen years.

Pub. L. 90–104, § 104Pub. L. 89–769Subsec. (f). , redesignated subsec. (e), added by , as (f).

Pub. L. 89–4091966—Subsec. (e). added subsec. (e).

Pub. L. 89–769 added subsec. (e) which provided for assistance to privately owned higher education in major disaster areas and repayment.

Pub. L. 89–59, § 1(a)1965—Subsec. (b). , increased the maturity of disaster loans from twenty to thirty years, and authorized suspension of principal and interest payments and extension of date of maturity for five year period.

Pub. L. 89–59, § 1(b)Subsec. (c). , designated existing provisions as par. (1) and added par. (2).

Pub. L. 88–2641964—Subsecs. (b)(2), (4). extended provisions of par. (2) to any small business affected by disasters other than drought or excessive rainfall and added par. (4) for disaster loans to any such business suffering economic injuries through natural or undetermined causes.

Pub. L. 88–560Subsec. (b)(3). provided that the purposes of a loan under this paragraph may include the purchase or construction of other premises whether or not the borrower owned the premises from which it was displaced.

Pub. L. 87–701961—Subsec. (b). added par. (3), and inserted provisions limiting the interest rate in the case of loans made pursuant to par. (3) to not more than the higher of (A) 2¾ per centum per annum, or (B) the average annual interest rate on all interest-bearing obligations forming a part of the public debt as computed at the end of the fiscal year next preceding the date of the loan and adjusted to the nearest one-eighth of 1 per centum, plus one-quarter of 1 per centum per annum.

Pub. L. 87–305Subsec. (d). empowered the Administration to make grants to any corporation formed by two or more eligible entities described in the text, authorized it to recommend to grant applicants particular studies or research, eliminated the limitation of one grant to a State, and conditioned grants to the procurement of additional amounts from sources other than the Administration.

Pub. L. 86–3671959—Subsec. (d). struck out provision for making the grants from the fund established in the Treasury by section 602(b) of the Small Business Investment Act of 1958.

Pub. L. 85–6991958—Subsec. (d). added subsec. (d).

Statutory Notes and Related Subsidiaries

Change of Name

June 29, 2001Mar. 25, 1981Committee on Small Business of Senate changed to Committee on Small Business and Entrepreneurship of Senate. See Senate Resolution No. 123, One Hundred Seventh Congress, . Previously, Select Committee on Small Business of Senate became Committee on Small Business of Senate. See Senate Resolution No. 101, Ninety-Seventh Congress, .

Effective Date of 2021 Amendment

Pub. L. 117–2, title V, § 5001(c)(3)Mar. 11, 2021135 Stat. 84

Effective Date of 2020 Amendment

Pub. L. 116–260, div. N, title III, § 304(c)Dec. 27, 2020134 Stat. 1996

Pub. L. 116–260, div. N, title III, § 308(b)Dec. 27, 2020134 Stat. 2000

Pub. L. 116–260, div. N, title III, § 310(a)(2)Dec. 27, 2020134 Stat. 2000

Pub. L. 116–260, div. N, title III, § 313(b)Dec. 27, 2020134 Stat. 2009

Pub. L. 116–260, div. N, title III, § 315(c)Dec. 27, 2020134 Stat. 2011

Pub. L. 116–260, div. N, title III, § 326(a)(2)Dec. 27, 2020134 Stat. 2036section 326(a)(2) of Pub. L. 116–260Oct. 1, 2021, , , provided in part that the amendment made by is effective .

Pub. L. 116–260, div. N, title III, § 326(b)(2)(B)Dec. 27, 2020134 Stat. 2037section 326(b)(2)(B) of Pub. L. 116–260Oct. 1, 2021, , , provided in part that the amendment made by is effective .

Pub. L. 116–260, div. N, title III, § 329(a)(2)Dec. 27, 2020134 Stat. 2042section 329(a)(2) of Pub. L. 116–260Oct. 1, 2021, , , provided in part that the amendment made by is effective .

Pub. L. 116–260, div. N, title III, § 335(b)Dec. 27, 2020134 Stat. 2047

Pub. L. 116–260, div. N, title III, § 336(b)Dec. 27, 2020134 Stat. 2048

Pub. L. 116–260, div. N, title III, § 337(b)Dec. 27, 2020134 Stat. 2048

Pub. L. 116–260, div. N, title III, § 338(b)Dec. 27, 2020134 Stat. 2048

Pub. L. 116–260, div. N, title III, § 339(a)Dec. 27, 2020134 Stat. 2049

Pub. L. 116–260, div. N, title III, § 340(b)(2)Dec. 27, 2020134 Stat. 2050

Pub. L. 116–260, div. N, title III, § 343(b)Dec. 27, 2020134 Stat. 2051

Pub. L. 116–260, div. N, title III, § 348Dec. 27, 2020134 Stat. 2052

Pub. L. 116–142, § 2(b)June 5, 2020134 Stat. 641

Pub. L. 116–142, § 3(d)June 5, 2020134 Stat. 643

Pub. L. 116–136, div. A, title I, § 1102(c)(2)Mar. 27, 2020134 Stat. 294Pub. L. 116–260, div. N, title III, § 326(b)(1)Dec. 27, 2020134 Stat. 2036section 1102(c)(2) of Pub. L. 116–136Oct. 1, 2021, , , as amended by , , , provided in part that the amendment made by is effective on .

Effective Date of 2019 Amendment

Pub. L. 116–92, div. A, title VIII, § 877(b)Dec. 20, 2019133 Stat. 1529

Effective Date of 2015 Amendment

Pub. L. 114–88, div. B, title I, § 2102(b)Nov. 25, 2015129 Stat. 690Pub. L. 115–280, § 1Nov. 29, 2018132 Stat. 4190Pub. L. 116–70, § 2Nov. 22, 2019133 Stat. 1145Nov. 25, 2015, , , as amended by , , ; , , , provided that the amendment made by section 2102(b) is effective on the date that is 7 years after .

Effective Date of 2014 Amendment

Pub. L. 113–128July 22, 2014July 1, 2015section 506 of Pub. L. 113–128section 3101 of Title 29Amendment by effective on the first day of the first full program year after (), see , set out as an Effective Date note under , Labor.

Effective Date of 2010 Amendment

Pub. L. 111–240, title I, § 1111(b)Sept. 27, 2010124 Stat. 2508Jan. 1, 2011, , , provided that the amendment made by section 1111(b) is effective .

Pub. L. 111–240, title I, § 1133(b)Sept. 27, 2010124 Stat. 2515Sept. 30, 2013, , , provided that the amendment made by section 1133(b) is effective .

Pub. L. 111–240, title I, § 1135(b)Sept. 27, 2010124 Stat. 2520Sept. 27, 2010, , , provided that the amendment made by section 1135(b) is effective 1 year after .

Pub. L. 111–240, title I, § 1206(h)Sept. 27, 2010124 Stat. 2532

Pub. L. 111–240, title I, § 1401(c)Sept. 27, 2010124 Stat. 2549Oct. 1, 2012, , , provided that the amendment made by section 1401(c)(1) is effective .

Effective Date of 2008 Amendment

Pub. L. 110–234Pub. L. 110–246May 22, 2008Pub. L. 110–234section 4 of Pub. L. 110–246section 8701 of Title 7Amendment of this section and repeal of by effective , the date of enactment of , except as otherwise provided, see , set out as an Effective Date note under , Agriculture.

Pub. L. 110–234, title XII, § 12078(b)(2)May 22, 2008122 Stat. 1415Pub. L. 110–246, § 4(a)June 18, 2008122 Stat. 1664

Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246section 8701 of Title 7[ and enacted identical provisions. was repealed by , set out as a note under , Agriculture.]

Pub. L. 110–234, title XII, § 12083(b)May 22, 2008122 Stat. 1420Pub. L. 110–246, § 4(a)June 18, 2008122 Stat. 1664

Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246section 8701 of Title 7[ and enacted identical provisions. was repealed by , set out as a note under , Agriculture.]

Effective Date of 2007 Amendment

Pub. L. 110–140Dec. 19, 2007section 1601 of Pub. L. 110–140section 1824 of Title 2Amendment by effective on the date that is 1 day after , see , set out as an Effective Date note under , The Congress.

Effective Date of 2004 Amendment

Pub. L. 108–447, div. K, title I, § 101(b)Dec. 8, 2004118 Stat. 3443

Pub. L. 108–447, div. K, title I, § 103(b)Dec. 8, 2004118 Stat. 3444

Pub. L. 108–447, div. K, title I, § 107(c)Dec. 8, 2004118 Stat. 3446

Effective Date of 2001 Amendment

Pub. L. 107–100Oct. 1, 2002section 6(e) of Pub. L. 107–100section 697 of this titleAmendment by effective , see , set out in an Effective Date of 2001 Amendment; Use of Funds note under .

Effective and Termination Dates of 1999 Amendments

Pub. L. 106–50, title IV, § 402(e)Aug. 17, 1999113 Stat. 246

Pub. L. 106–8, § 3(c)Apr. 2, 1999113 Stat. 16Dec. 31, 2000, , , provided that effective , this section (amending this section and enacting provisions set out as a note under this section) and the amendments made by this section are repealed.

Effective Date of 1998 Amendment

Pub. L. 105–277Oct. 21, 1998Pub. L. 105–277July 1, 2000Pub. L. 105–277section 3502 of Title 5Amendment by section 101(f) [title VIII, § 405(d)(10)] of effective , and amendment by section 101(f) [title VIII, § 405(f)(9)] of effective , see section 101(f) [title VIII, § 405(g)(1), (2)(B)] of , set out as a note under , Government Organization and Employees.

Effective Date of 1997 Amendment

Pub. L. 105–135Oct. 1, 1997section 3 of Pub. L. 105–135section 631 of this titleAmendment by effective on , see , set out as a note under .

Effective Date of 1996 Amendment

Pub. L. 104–208Oct. 1, 1996section 3 of Pub. L. 104–208section 633 of this titleAmendment by effective , see , set out as a note under .

Effective Date of 1995 Amendment

Pub. L. 104–36Oct. 12, 1995Oct. 12, 1995section 8 of Pub. L. 104–36section 634 of this titleAmendment by inapplicable to loans made or guaranteed under Small Business Act or Small Business Investment Act of 1958 before , unless such loans are refinanced, extended, restructured, or renewed on or after , see , set out as a note under .

Effective and Termination Dates of 1994 Amendment

Pub. L. 103–403, title II, § 208(c)Oct. 22, 1994108 Stat. 4182

Effective Date of 1993 Amendment

Pub. L. 103–81, § 5(b)Aug. 13, 1993107 Stat. 782

Effective Date of 1992 Amendment

Pub. L. 102–366, title I, § 113(b)Sept. 4, 1992106 Stat. 993

Effective Date of 1989 Amendment

Pub. L. 101–37Pub. L. 100–656section 32 of Pub. L. 101–37section 631 of this titleAmendment by applicable as if included in , see , set out as a note under .

Effective Date of 1988 Amendments

Pub. L. 100–656section 301(b) of Pub. L. 100–656Nov. 15, 1988section 803(a) of Pub. L. 100–656section 631 of this titleAmendments by sections 202, 203, 206, 301(a), 408, and 505(h) of and subsec. (j)(13)(G) and (I) of this section as added by , effective , see , set out as a note under .

Pub. L. 100–656Aug. 15, 1989Pub. L. 100–656section 631 of this titleAmendments by sections 201(a), 205, 208, 301(b), (c), and 303(a) of effective , see section 803(b)(1)(A), (B) of , as amended, set out as a note under .

section 302 of Pub. L. 100–656June 1, 1989section 803(b)(2) of Pub. L. 100–656section 631 of this titleAmendment by effective , see , as amended, set out as a note under .

section 301(b) of Pub. L. 100–656Oct. 1, 1989section 803(b)(4)(D) of Pub. L. 100–656section 631 of this titleSubsection (j)(13)(E) of this section as added by effective , see , as amended, set out as a note under .

Pub. L. 100–590Aug. 1, 1988Oct. 1, 1988section 137 of Pub. L. 100–590section 631 of this titleAmendments by sections 119(a) and 120 to 122 of effective for all loan applications resulting from disaster declarations made on or after , or from disaster declarations whose filing periods were open on , see , set out as a note under .

Effective Date of 1984 Amendment

Pub. L. 98–270Oct. 1, 1983section 313 of Pub. L. 98–270section 632 of this titleAmendment by effective , see , set out as a note under .

Pub. L. 98–270, title III, § 307Apr. 18, 198498 Stat. 161

section 311 of Pub. L. 98–270Sept. 1, 1982section 312 of Pub. L. 98–270section 632 of this titleAmendment by applicable to loans granted on the basis of any disaster with respect to which a declaration has been issued after , under subsec. (b)(2)(A), (B), or (C) of this section or with respect to which a certification has been made after such date under subsec. (b)(2)(D) of this section, see , set out as a note under .

Effective Date of 1981 Amendment

Pub. L. 97–35, title XIX, § 1910Aug. 13, 198195 Stat. 778Oct. 1, 1985, , , provided that the repeal of subsec. (a)(6)(C), (8) of this section is effective .

section 1913 of Pub. L. 97–35Oct. 1, 1981Pub. L. 97–35Aug. 13, 1981Aug. 13, 1981section 1918 of Pub. L. 97–35section 631 of this titleAmendment by effective , amendments by sections 1902, 1911, 1912, and 1914 of effective , but shall not affect any financing made, obligated, or committed under this chapter or chapter 14B of this title prior to , see , set out as a note under .

Effective Date of 1980 Amendment

Pub. L. 96–302Oct. 1, 1980section 507 of Pub. L. 96–302section 631 of this titleAmendment by effective , see , set out as a note under .

Pub. L. 96–302, title I, § 119(d)July 2, 198094 Stat. 841

Effective Date of 1978 Amendment

Pub. L. 95–510Oct. 1, 1979section 105 of Pub. L. 95–510section 634 of this titleAmendment by effective , see , set out as a note under .

Effective Date of 1977 Amendment

Pub. L. 95–89Oct. 1, 1977section 106 of Pub. L. 95–89section 633 of this titleAmendment by section 101(d), (e) of effective , see , set out as a note under .

Effective Date of 1972 Amendment

Pub. L. 92–385, § 1(b)Aug. 16, 197286 Stat. 555

Effective Date of 1970 Amendments

Pub. L. 91–597section 29 of Pub. L. 91–597section 1031 of Title 21For effective date of amendment by see , set out as a note under , Food and Drugs.

Pub. L. 91–596Dec. 29, 1970section 34 of Pub. L. 91–596section 651 of Title 29Amendment by effective 120 days after , see , set out as a note under , Labor.

Effective Date of 1968 Amendment

Pub. L. 90–495Aug. 23, 1968section 37 of Pub. L. 90–495section 101 of Title 23Amendment by effective , see , set out as a note under , Highways.

Effective Date of 1966 Amendment

Pub. L. 89–409, § 3(c)May 2, 196680 Stat. 133

Regulations

Pub. L. 117–249, § 2(b)Dec. 20, 2022136 Stat. 2351

Pub. L. 116–136, div. A, title I, § 1102(e)Mar. 27, 2020134 Stat. 294

Pub. L. 111–240, title I, § 1131(b)Sept. 27, 2010124 Stat. 2514

Pub. L. 106–50, title IV, § 402(d)Aug. 17, 1999113 Stat. 246

Pub. L. 106–8, § 3(b)Apr. 2, 1999113 Stat. 15Apr. 2, 1999Pub. L. 106–8, § 3(c)Apr. 2, 1999113 Stat. 16Dec. 31, 2000, , , which provided that not later than 30 days after , Administrator of the Small Business Administration was to issue guidelines to carry out the program under former subsec. (a)(27) of this section, was repealed by , , , effective .

Section 114 of Pub. L. 102–366

Pub. L. 102–140, title VI, § 609(i)Oct. 28, 1991105 Stat. 831

Pub. L. 100–656, title VIII, § 801Nov. 15, 1988102 Stat. 3898Pub. L. 101–37, § 30June 15, 1989103 Stat. 76

Termination of Reporting Requirements

May 15, 2000section 3003 of Pub. L. 104–66section 1113 of Title 31For termination, effective , of provisions of law requiring submittal to Congress of any annual, semiannual, or other regular periodic report listed in House Document No. 103–7 (in which reports required under subsections (a)(15)(E) and (j)(16)(B) of this section are listed on page 191), see , as amended, set out as a note under , Money and Finance.

Transfer of Functions

section 315(a)(1) of Title 6For transfer of all functions, personnel, assets, components, authorities, grant programs, and liabilities of the Federal Emergency Management Agency, including the functions of the Under Secretary for Federal Emergency Management relating thereto, to the Federal Emergency Management Agency, see , Domestic Security.

November 25, 2002section 542 of Title 6For transfer of functions, personnel, assets, and liabilities of the Federal Emergency Management Agency, including the functions of the Director of the Federal Emergency Management Agency relating thereto, to the Secretary of Homeland Security, and for treatment of related references, see former section 313(1) and sections 551(d), 552(d), and 557 of Title 6, Domestic Security, and the Department of Homeland Security Reorganization Plan of , as modified, set out as a note under .

Restriction

Pub. L. 117–6, § 2(c)Mar. 30, 2021135 Stat. 250

Subsequent Paycheck Protection Program Loans

Pub. L. 116–260, div. N, title II, § 276(b)Dec. 27, 2020134 Stat. 1979

Demographic Information on Loan Applications

Pub. L. 116–260, div. N, title III, § 309Dec. 27, 2020134 Stat. 2000

Eligible Churches and Religious Organizations

Pub. L. 116–260, div. N, title III, § 311(c)Dec. 27, 2020134 Stat. 2007

Increased Ability for Paycheck Protection Program Borrowers To Request an Increase in Loan Amount Due to Updated Regulations

Pub. L. 116–260, div. N, title III, § 312Dec. 27, 2020134 Stat. 2007

Farm Credit System Institutions

Pub. L. 116–260, div. N, title III, § 314Dec. 27, 2020134 Stat. 2009

Conflicts of Interest

Pub. L. 116–260, div. N, title III, § 322Dec. 27, 2020134 Stat. 2017

Temporary Administrative Fee Waiver

Pub. L. 116–260, div. N, title III, § 327(a)Dec. 27, 2020134 Stat. 2037

Temporary Waiver of Technical Assistance Grants Matching Requirements and Flexibility on Pre- and Post-Loan Assistance

Pub. L. 116–260, div. N, title III, § 329(b)Dec. 27, 2020134 Stat. 2042

Temporary Duration of Loans to Borrowers

Pub. L. 116–260, div. N, title III, § 329(c)Dec. 27, 2020134 Stat. 2042

Findings

Pub. L. 114–88, div. A, § 1002Nov. 25, 2015129 Stat. 687

Availability of Funds

Pub. L. 111–240, title I, § 1131(c)Sept. 27, 2010124 Stat. 2514

Marketing and Outreach

Pub. L. 110–234, title XII, § 12063(b)May 22, 2008122 Stat. 1408Pub. L. 110–246, § 4(a)June 18, 2008122 Stat. 1664

Pub. L. 110–234Pub. L. 110–246Pub. L. 110–234section 4(a) of Pub. L. 110–246section 8701 of Title 7[ and enacted identical provisions. was repealed by , set out as a note under , Agriculture.]

Pub. L. 110–246, § 12063(b)section 636e of this title[“Administration” and “Administrator”, referred to in , set out above, as meaning the Small Business Administration and the Administrator thereof, see .]

Pub. L. 110–186Definition of Terms Used in

Pub. L. 110–186, § 3Feb. 14, 2008122 Stat. 623

Establishment of Pre-Consideration Process and Outreach and Technical Assistance Program

Pub. L. 110–186, title II, § 201(b)Feb. 14, 2008122 Stat. 627

Reservist Loans

Pub. L. 110–186, title II, § 202Feb. 14, 2008122 Stat. 629

Temporary Extension and Expansion of Loan Programs

Pub. L. 108–217Apr. 5, 2004118 Stat. 591–59415 U.S.C. 636(a)Apr. 5, 2004Sept. 30, 2004, §§ 4–8, , , provided for the temporary extension and expansion of certain loan programs under beginning on , and ending on .

Budgetary Treatment of Loans and Financings

Pub. L. 107–100, § 6(c)Dec. 21, 2001115 Stat. 97115 U.S.C. 636(a)Oct. 1, 2002, , , provided for special budgetary treatment of certain loans and financings by the Small Business Administration under during the 2-year period beginning on .

Enhanced Publicity During Operation Allied Force

Pub. L. 106–50, title IV, § 402(c)Aug. 17, 1999113 Stat. 246, , , provided for enhanced publicity of the availability of assistance during Operation Allied Force and for 120 days thereafter.

Evaluation of Predisaster Mitigation Pilot Program

Pub. L. 106–24, § 1(c)Apr. 27, 1999113 Stat. 39Jan. 31, 2003, , , provided that, on , the Administrator of the Small Business Administration was to submit to the Committees on Small Business of the House of Representatives and the Senate a report on the effectiveness of the pilot program authorized by subsec. (b)(1)(C) of this section.

Congressional Findings Regarding Small Business Year 2000 Readiness

Pub. L. 106–8, § 2Apr. 2, 1999113 Stat. 13

Transfer of Funds

Pub. L. 105–135, title II, § 202(b)Dec. 2, 1997111 Stat. 2600

Defense Loan and Technical Assistance Program

Pub. L. 105–135, title V, § 507Dec. 2, 1997111 Stat. 2625

Trade Assistance Program for Small Business Concerns Adversely Affected by NAFTA

Section 509 of Pub. L. 105–135

Private Sector Loan Servicing Demonstration Program

Pub. L. 104–208, div. D, title I, § 104(a)Sept. 30, 1996110 Stat. 3009–729

Increase of Amounts for Disaster Loans

Pub. L. 103–75Aug. 12, 1993107 Stat. 740

Congressional Findings of Microlending Expansion Act of 1992

Pub. L. 102–366, title I, § 112Sept. 4, 1992106 Stat. 989

Disadvantaged Small Business Status Decisions

Pub. L. 102–366, title II, § 221Sept. 4, 1992106 Stat. 999

Reauthorization of Bond Waiver Test Program

Pub. L. 102–190, div. A, title VIII, § 813(a)Dec. 5, 1991105 Stat. 1424Oct. 1, 1994–(e), , , authorized the Secretary of Defense to grant surety bond exemptions to certain participants in the Minority Small Business and Capital Ownership Development Program who were awarded construction contracts by the Department of Defense before .

Emergency Direct Loans for Small Business Concerns Located in Communities Adversely Affected by Troop Deployments During Persian Gulf Conflict

Pub. L. 102–190, div. A, title X, § 1087Dec. 5, 1991105 Stat. 1483July 31, 1990, , , authorized emergency direct loans to small business concerns located in counties in which at least 5 small business concerns suffered severe economic injury resulting from deployment, after , of troops in connection with Persian Gulf conflict, provided that loan amounts could not exceed $50,000 to any small business concern, and provided for source of loan funds, applications for loans, definitions, regulations to implement loan program, and expiration of loan authority at end of 270-day period beginning on date on which loan applications were first accepted.

Termination of Microloan Demonstration Program

Pub. L. 102–140, title VI, § 609(j)Oct. 28, 1991105 Stat. 831Pub. L. 103–403, title II, § 203Oct. 22, 1994108 Stat. 4181

References in Other Laws to GS–16, 17, or 18 Pay Rates

Pub. L. 101–509section 5376 of Title 5References in laws to the rates of pay for GS–16, 17, or 18, or to maximum rates of pay under the General Schedule, to be considered references to rates payable under specified sections of Title 5, Government Organization and Employees, see section 529 [title I, § 101(c)(1)] of , set out in a note under .

Test Program for Use of Bond Waiver Authority To Assist Certain Small Disadvantaged Business Concerns

Pub. L. 101–189, div. A, title VIII, § 833Nov. 29, 1989103 Stat. 1509Pub. L. 102–190, div. A, title VIII, § 813(f)Dec. 5, 1991105 Stat. 1424, , , which directed Secretary of Defense and Small Business Administration to establish a program for fiscal years 1990 and 1991 to test use of authority provided by subsec. (j)(13)(D) of this section, and that under the test program, the Secretary of Defense was to make every reasonable effort during each such fiscal year to award not less than 30 contracts for construction projects (including repair and alteration of existing facilities) to participants in Minority Small Business and Capital Ownership Development Program of Small Business Administration granted surety bond exemptions under such authority, was repealed by , , .

Pub. L. 100–656Definition of Terms Used in

Pub. L. 100–656, § 2Nov. 15, 1988102 Stat. 3854Pub. L. 101–37, § 3June 15, 1989103 Stat. 70

Pub. L. 100–656Congressional Findings and Declaration of Purposes of

Pub. L. 100–656, title I, § 101Nov. 15, 1988102 Stat. 3855