H. R. 5334
IN THE HOUSE OF REPRESENTATIVES
May 9, 2006
Mr. Sweeney introduced the following bill; which was referred to the Committee on Small Business
To provide for low-interest disaster loans when a small business concern is affected by a small-scale disaster.
This Act may be cited as the
Small Scale Disaster Small Business
Assistance Act of 2006.
Disaster loans when small business concern is affected by small-scale disaster
Section 7 of the Small Business Act (15 U.S.C. 636) is amended in subsection (b) by adding after paragraph (3) the following new paragraph:
to make such disaster loans (either directly or in cooperation with banks or other lending institutions through agreement to participate on an immediate or deferred basis) to assist a small business concern that—
has suffered or that is likely to suffer over $50,000 in damage or lost revenue as the result of a disaster that is of a scale too small to be covered by paragraph (2); and
is not otherwise receiving Federal or State assistance by reason of the disaster.