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15 U.S.C. § 636a — Repealed. Pub. L. 97–35, title XIX, § 1917, Aug. 13, 1981, 95 Stat. 781

Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 636a — Repealed. Pub. L. 97–35, title XIX, § 1917, Aug. 13, 1981, 95 Stat. 781

### Statutory Notes Section, Pub. L. 91–606, title II, § 231, Dec. 31, 1970, 84 Stat. 1752; Pub. L. 92–385, § 6, Aug. 16, 1972, 86 Stat. 559, related to small business disaster loans. #### Effective Date of Repeal Repeal effective Aug. 13, 1981, but not to affect any financing made, obligated, or committed under this chapter or chapter 14B of this title prior to Aug. 13, 1981, see section 1918 of Pub. L. 97–35, set out as an Effective Date of 1981 Amendment note under [section 631 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section631&num=0&edition=prelim).

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Source location: Title 15, Chapter 14A, § 636a; chapter-14a-aid-to-small-business.md

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 631 — Declaration of policy

**(a) Aid, counsel, assistance, etc., to small business concerns** The essence of the American economic system of private enterprise is free competition. Only through full and free competition can free markets, free entry into business, and opportunities for the expression and growth of personal initiative and individual judgment be assured. The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation. Such security and well-being cannot be realized unless the actual and potential capacity of small business is encouraged and developed. It is the declared policy of the Congress that the Government should aid, counsel, assist, and protect, insofar as is possible, the interests of small-business concerns in order to preserve free competitive enterprise, to insure that a fair proportion of the total purchases and contracts or subcontracts for property and services for the Government (including but not limited to contracts or subcontracts for maintenance, repair, and construction) be placed with small-business enterprises, to insure that a fair proportion of the total sales of Government property be made to such enterprises, and to maintain and strengthen the overall economy of the Nation. **(b) Assistance to compete in international markets** (1) It is the declared policy of the Congress that the Federal Government, through the Administrator of the Small Business Administration, acting through the Associate Administrator for International Trade, and in cooperation with the Department of Commerce and other relevant State and Federal agencies, should aid and assist small businesses, as defined under this chapter, to increase their ability to compete in international markets by— (A) enhancing their abil

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 636 — Additional powers

**(a) Loans to small business concerns; allowable purposes; qualified business; restrictions and limitations** The Administration is empowered to the extent and in such amounts as provided in advance in appropriation Acts to make loans for plant acquisition, construction, conversion, or expansion, including the acquisition of land, material, supplies, equipment, and working capital, and to make loans to any qualified small business concern, including those owned by qualified Indian tribes, for purposes of this chapter. Such financings may be made either directly or in cooperation with banks or other financial institutions through agreements to participate on an immediate or deferred (guaranteed) basis. These powers shall be subject, however, to the following restrictions, limitations, and provisions: (1) **In general.—** (A) *Credit elsewhere.—* (i) *In general.—* — The Administrator has the authority to direct, and conduct oversight for, the methods by which lenders determine whether a borrower is able to obtain credit elsewhere. No financial assistance shall be extended pursuant to this subsection if the applicant can obtain credit elsewhere. No immediate participation may be purchased unless it is shown that a deferred participation is not available; and no direct financing may be made unless it is shown that a participation is not available. (ii) *Liquidity.—* — On and after October 1, 2015, the Administrator may not guarantee a loan under this subsection if the lender determines that the borrower is unable to obtain credit elsewhere solely because the liquidity of the lender depends upon the guaranteed portion of the loan being sold on the secondary market. (B) *Background checks.—* — Prior to the approval of any loan made pursuant to this subsecti

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 636b — Disaster loan interest rates

Any loan made under section 636a 11 See References in Text note below. of this title and section 4452 1 of title 42 shall not exceed the current cost of repairing or replacing the disaster injury, loss, or damage in conformity with current codes and specifications. Any loan made under sections 636a 1 and 636d of this title, and sections 3538 and 4452 1 of title 42 shall bear interest at a rate determined by the Secretary of the Treasury, taking into consideration the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity of ten to twelve years reduced by not to exceed 2 per centum per annum. In no event shall any loan made under this section bear interest at a rate in excess of 6 per centum per annum.

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 636c — Age of applicant for disaster loans

In the administration of any Federal disaster loan program under the authority of section 636a 11 See References in Text note below. of this title, section 4452 1 of title 42, or section 233 of Public Law 91–606, the age of any adult loan applicant shall not be considered in determining whether such loan should be made or the amount of such loan.

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Federal law — U.S. Code and appendices · legal_authorities

42 U.S.C. § 4451 — Transferred

### Statutory Notes #### Codification Section, Pub. L. 91–606, title II, § 231, Dec. 31, 1970, 84 Stat. 1752; Pub. L. 92–385, § 6, Aug. 16, 1972, 86 Stat. 559, which related to small business disaster loans, was transferred to [section 636a of Title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636a&num=0&edition=prelim), Commerce and Trade, and subsequently repealed.

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Federal law — U.S. Code and appendices · legal_authorities

15 U.S.C. § 636a — Repealed. Pub. L. 97–35, title XIX, § 1917,

Page 877 TITLE 15—COMMERCE AND TRADE § 636b 1 See References in Text note below. DISASTER RELIEF AUTHORITY; STUDY AND REPORT ON CONSOLIDATION Pub. L. 94–305, title I, § 101, June 4, 1976, 90 Stat. 663, required the President to comprehensively review all Federal disaster loan authorities and to report to Con- gress by Dec. 1, 1976, with recommendations and legis- lative proposals for the most effective and efficient de- livery of disaster relief, including possible consolida- tion of authorities. DISASTER LOANS; SPECIAL PROVISIONS FOR APPLICA- TIONS RECEIVED ON OR BEFORE MARCH 19, 1981; AS- SISTANCE TO HARDSHIP APPLICANTS Pub. L. 97–35, title XIX, § 1916, Aug. 13, 1981, 95 Stat. 780, provided for special provisions for applications for disaster loans under 15 U.S.C. 1636(b)(1), (2), or (4) re- ceived on or before Mar. 19, 1981, with assistance to hardship applicants. DISASTER LOANS; INTEREST RATE; CANCELLATION OF LOANS Pub. L. 93–24, § 9, Apr. 20, 1973, 87 Stat. 25, provided that: ‘‘Notwithstanding the provisions of any other law, any loan made by the Small Business Administra- tion in connection with any disaster occurring on or after the date of enactment of this Act [Apr. 20, 1973] under sections 7(b)(1), (2), or (4) of the Small Business Act (15 U.S.C. 636(b)(1), (2), or (4)) [subsec. (b)(1), (2), or (4) of this section] shall bear interest at the rate deter- mined under section 324 of the Consolidated Farm and Rural Development Act, as amended by section 4 of this Act [section 1964 of Title 7, Agriculture]. No portion of any such loan shall be subject to cancellation under the provisions of any law.’’ INTEREST RATES ON LOANS TO MEET REGULATORY STANDARDS Pub. L. 93–237, § 2(d), Jan. 2, 1974, 87 Stat. 1024, pro- vided that: ‘‘In no case shal

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