Section 1 Waiver of interest accrual and payments for certain disaster loans
Section 7(d) of the Small Business Act (15 U.S.C. 636(d)) is amended by adding at the end the following paragraph:
“(9) Waiver of interest accrual and payments—With respect to a loan made under subsection (b) for disasters declared on or after the date of the enactment of this paragraph, the Administrator shall, for the 12-month period beginning on the date of disbursement of such loan—
“(A) establish a rate of interest on such loan of zero percent; and
“(B) defer payments on the principal of such loan.”