A bill to amend the Small Business Act to provide disaster loan eligibility to small business concerns located in States in which one-third or more of the depository institutions have been simultaneously closed for a period of at least 5 days.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Feb 5, 1991)
Amends the Small Business Act to empower the Small Business Administration to make disaster loans to small business concerns in a State in which one-third or more of the depository institutions have been closed simultaneously for a five-day period and, consequently, depositors cannot access their funds.
Limits eligibility to situations where: (1) a substantial percentage of the applicant's funds are held in a closed depository institution; and (2) the applicant's need for credit is a direct result of the closing of such institution.
What just happenedFeb 5, 1991
Read twice and referred to the Committee on Small Business.
Who’s behind it
- Feb 5, 1991IntroReferral
Read twice and referred to the Committee on Small Business.
Small Business and Entrepreneurship Committee - Feb 5, 1991IntroReferral10000
Introduced in Senate