ABSTRACT

The SBA Pre-Disaster Mitigation Loan Pilot Program: Considerations for Congress and Policy Options [Updated October 5, 2020]   [open pdf - 1MB]

From the Summary: "For nearly a century, Congress has contemplated how to help businesses repair and rebuild after a disaster. Congress has also expressed interest in helping businesses use mitigation measures to protect their investments from future incidents. Mitigation activities entail identifying risks and hazards and taking measures to either substantially reduce or eliminate the impact of an incident. As described in this report, mitigation measures primarily take place during the recovery phase of a disaster. Currently, only damaged businesses in declared disaster areas are eligible for disaster loans. Businesses seeking mitigation assistance before a disaster strikes, however, must look to other sources for the assistance. Congress experimented with business pre-disaster mitigation (PDM) through a pilot program operated by the Small Business Administration (SBA) from FY2000 to FY2006. Though Congress authorized appropriations of $15 million each fiscal year to carry out the SBA PDM pilot program, four businesses obtained pre-disaster mitigation loans, totaling just over $100,000."

Report Number:
CRS Report for Congress, R46118
Author:
Publisher:
Date:
2020-10-05
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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