15 U.S.C. § 636d : US Code - Section 636D: Disaster aid to major sources of employment

Search 15 U.S.C. § 636d : US Code - Section 636D: Disaster aid to major sources of employment

(a) Loans to disaster areas
The Small Business Administration in the case of a
nonagricultural enterprise, and the Farmers Home Administration in
the case of an agricultural enterprise, are authorized to provide
any industrial, commercial, agricultural, or other enterprise,
which has constituted a major source of employment in an area
suffering a major disaster and which is no longer in substantial
operation as a result of such disaster, a loan in such amount as
may be necessary to enable such enterprise to resume operations in
order to assist in restoring the economic viability of the disaster
area. Loans authorized by this section 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.
(b) Interest; deferred payments
Assistance under this section shall be in addition to any other
Federal disaster assistance, except that such other assistance may
be adjusted or modified to the extent deemed appropriate by the
Director under the authority of section 4418 (!1) of title 42. Any
loan made under this section shall be subject to the interest
requirements of section 636b of this title, but the President, if
he deems it necessary, may defer payments of principal and interest
for a period not to exceed three years after the date of the loan.
Any such deferred payments shall bear interest at the rate
determined under section 636b of this title.