ABSTRACT

SBA Disaster Loan Program: Overview and Possible Issues for Congress [October 23, 2015]   [open pdf - 843KB]

"Through its Office of Disaster Assistance (ODA), the Small Business Administration (SBA) has been a major source of assistance for the restoration of commerce and households in areas stricken by natural and human-caused disasters since the agency's creation in 1953. Through its disaster loan program, SBA offers low-interest, long-term loans for physical and economic damages to businesses to help repair, rebuild, and recover from economic losses after a declared disaster. The majority of the agency's disaster loans, however (over 80%) are made to individuals and households (renters and property owners) to help repair and replace homes and personal property. [...] This report describes the SBA Disaster Loan Program, including the types of loans available to individuals, households, businesses, and nonprofit organizations, and highlights issues that may be of potential congressional concern. These concerns include SBA loan processing times, the use of personal residences as collateral for business disaster loans, and the implementation of expedited and immediate assistance programs required by Small Business Disaster Response and Loan Improvements Act of 2008."

Report Number:
CRS Report for Congress, R41309
Author:
Publisher:
Date:
2015-10-23
Series:
Copyright:
Public Domain
Retrieved From:
National Agricultural Law Center: http://www.nationalaglawcenter.org/
Format:
pdf
Media Type:
application/pdf
URL:
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