Section 1 Short title
This Act may be cited as the “Small Business Disaster Relief Act of 2017”.
Small Business Disaster Relief Act of 2017
A BILL
To provide disaster relief to small businesses, and for other purposes.
Sec. 2 Sense of Congress regarding disaster loan processing
It is the sense of Congress that the Administrator of the Small Business Administration should use district offices of the Administration whenever possible to expedite the processing of disaster loans under section 7(b) of the Small Business Act (15 U.S.C. 636(b)).
Sec. 3 Small business development center portability grants
Section 21(a)(4)(C)(viii) of the Small Business Act (15 U.S.C. 648(a)(4)(C)(viii)) is amended—
in the first sentence, by striking “as a result of a business or government facility down sizing or closing, which has resulted in the loss of jobs or small business instability” and inserting “due to events that have resulted or will result in a business or government facility downsizing or closing”; and
by adding at the end the following: “At the discretion of the Administrator, the Administrator may make an award greater than $100,000 to a recipient to accommodate extraordinary occurrences having a catastrophic impact on the small business concerns in a community.”.
Sec. 4 Disaster assistance to critical enterprises
Section 237 of the Disaster Relief Act of 1970 (15 U.S.C. 636d) is amended—
by redesignating subsection (b) as subsection (c); and
in subsection (a)—
by striking “Farmers Home Administration” and inserting “Farm Service Agency”;
by striking “major disaster or” and inserting “major disaster or is vital to recovery efforts in the disaster area (including providing debris removal services, manufactured housing, gasoline, telecommunications, or building materials),”; and
by striking “Loans authorized” and inserting the following:
“(b) Terms and conditions—Notwithstanding any other provision of law, loans authorized by this section—
“(1) shall be made without regard to limitations on the size of loans which may otherwise be imposed by any other provision of law or regulations promulgated pursuant thereto; and
“(2) may waive any required evaluation of creditworthiness in exchange for a fee, as set by the Small Business Administration or the Farm Service Agency, as applicable.”