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15 U.S.C. § 9009 — Emergency EIDL grants

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

15 U.S.C. § 9009 — Emergency EIDL grants

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Stable record: federal_law:legal_authorities:record_usc_730088bf31d2bf7aa87ff891
Source file: Laws/federal/codes/united-states-code/title-15/section-9009-emergency-eidl-grants--99695f2016.md
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Source location: Title 15, Chapter 116, § 9009; chapter-116-coronavirus-economic-stabilization-cares-act.md

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**(a) Definitions** In this section— (1) the term “covered period” means the period beginning on January 31, 2020 and ending on December 31, 2021; and (2) the term “eligible entity” means— (A) a business with not more than 500 employees; (B) any individual who operates under a sole proprietorship, with or without employees, or as an independent contractor; (C) a cooperative with not more than 500 employees; (D) an ESOP (as defined in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632&num=0&edition=prelim)) with not more than 500 employees; (E) a tribal small business concern, as described in [section 657a(b)(2)(C) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section657a/b/2/C&num=0&edition=prelim), with not more than 500 employees; or (F) an agricultural enterprise (as defined in [section 647(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section647/b&num=0&edition=prelim) 11 So in original. Probably should be followed by a closing parenthesis. with not more than 500 employees. **(b) Eligible entities** During the covered period, in addition to small business concerns, private nonprofit organizations, and small agricultural cooperatives, an eligible entity shall be eligible for a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim). **(c) Terms; credit elsewhere** With respect to a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) in response to COVID–19 during the covered period, the Administrator shall waive— (1) any rules related 22 So in original. Probably should be followed by “to”. the personal guarantee on advances and loans of not more than $200,000 during the covered period for all applicants; (2) the requirement that an applicant needs to be in business for the 1-year period before the disaster, except that no waiver may be made for a business that was not in operation on January 31, 2020; and (3) the requirement in the flush matter following subparagraph (E) of [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim), as so redesignated by subsection (f) of this section,33 See Codification note below. that an applicant be unable to obtain credit elsewhere. **(d) Approval and ability to repay for small dollar loans** With respect to a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) in response to COVID–19 during the covered period, the Administrator may— (1) approve an applicant— (A) based solely on the credit score of the applicant; or (B) by using alternative appropriate methods to determine an applicant’s ability to repay; and (2) use information from the Department of the Treasury to confirm that— (A) an applicant is eligible to receive such a loan; or (B) the information contained in an application for such a loan is accurate. **(e) Emergency grant** (1) **In general** (A) *Advances* — During the covered period, an entity included for eligibility in subsection (b), including small business concerns, private nonprofit organizations, and small agricultural cooperatives, that applies for a loan under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) in response to COVID–19 may request that the Administrator provide an advance that is, subject to paragraph (3), in the amount requested by such applicant to such applicant. (B) *Timing* — With respect to each request submitted to the Administrator under subparagraph (A), the Administrator shall, not later than 21 days after the date on which the Administrator receives the request— (i) verify whether the entity is an entity that is eligible for a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) during the covered period, as described in subsection (b); (ii) if the Administrator, under clause (i), verifies that the entity submitting the request is an entity that is eligible, as described in that clause, provide the advance requested by the entity; and (iii) with respect to an entity that the Administrator determines is not entitled to receive an advance under this subsection, provide the entity with a notification explaining why the Administrator reached that determination. (2) **Verification** — Before disbursing amounts under this subsection, the Administrator shall verify that the applicant is an eligible entity by accepting a self-certification from the applicant under penalty of perjury pursuant to [section 1746 of title 28](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title28-section1746&num=0&edition=prelim). (3) **Amount** — The amount of an advance provided under this subsection shall be not more than $10,000. (4) **Use of funds** — An advance provided under this subsection may be used to address any allowable purpose for a loan made under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim), including— (A) providing paid sick leave to employees unable to work due to the direct effect of the COVID–19; (B) maintaining payroll to retain employees during business disruptions or substantial slowdowns; (C) meeting increased costs to obtain materials unavailable from the applicant’s original source due to interrupted supply chains; (D) making rent or mortgage payments; and (E) repaying obligations that cannot be met due to revenue losses. (5) **Repayment** — An applicant shall not be required to repay any amounts of an advance provided under this subsection, even if subsequently denied a loan under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim). (6) **Repealed. Pub. L. 116–260, div. N, title III, § 333(c), Dec. 27, 2020, 134 Stat. 2046** (7) **Authorization of appropriations** — There is authorized to be appropriated to the Administration $40,000,000,000 to carry out this subsection. (8) **Termination** — The authority to carry out grants under this subsection shall terminate on December 31, 2021. (9) **Statute of limitations** — Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to the use of an advance received under this subsection shall be filed not later than 10 years after the offense was committed.

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

15 U.S.C. § 9009b — Targeted EIDL advance for small business continuity, adaptation, and resiliency

**(a) Definitions** In this section: (1) **Agricultural enterprise** — The term “agricultural enterprise” has the meaning given the term in [section 647(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section647/b&num=0&edition=prelim). (2) **Covered entity** — The term “covered entity”— (A) means an eligible entity that— (i) applies for a loan under [section 636(b)(2) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/b/2&num=0&edition=prelim) during the covered period, including before December 27, 2020; (ii) is located in a low-income community; (iii) has suffered an economic loss of greater than 30 percent; and (iv) employs not more than 300 employees; and (B) except with respect to an entity included under section 123.300(c) of title 13, Code of Federal Regulations, or any successor regulation, does not include an agricultural enterprise. (3) **Covered period** — The term “covered period” has the meaning given the term in [section 9009(a)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009/a/1&num=0&edition=prelim), as amended by section 332 of this Act. (4) **Economic loss** — The term “economic loss” means, with respect to a covered entity— (A) the amount by which the gross receipts of the covered entity declined during an 8-week period between March 2, 2020, and December 31, 2021, relative to a comparable 8-week period immediately preceding March 2, 2020, or during 2019; or (B) if the covered entity is a seasonal business concern, such other amount determined appropriate by the Administrator. (5) **Eligible entity** — The term “eligible entity” means an entity that, during the covered period, is el

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

15 U.S.C. § 632 — Definitions

**(a) Small business concerns** (1) **In general** — For the purposes of this chapter, a small-business concern, including but not limited to enterprises that are engaged in the business of production of food and fiber, ranching and raising of livestock, aquaculture, and all other farming and agricultural related industries, shall be deemed to be one which is independently owned and operated and which is not dominant in its field of operation. (2) **Establishment of size standards** (A) *In general* — In addition to the criteria specified in paragraph (1) and subject to the requirements specified under subparagraph (C), the Administrator may specify detailed definitions or standards by which a business concern may be determined to be a small business concern for the purposes of this chapter or any other Act. (B) *Additional criteria* — The standards described in paragraph (1) may utilize number of employees, dollar volume of business, net worth, net income, a combination thereof, or other appropriate factors. (C) *Requirements* — Unless specifically authorized by statute, no Federal department (including the Administration when acting pursuant to subparagraph (A)) or agency may prescribe a size standard for categorizing a business concern as a small business concern, unless such proposed size standard— (i) is proposed after an opportunity for public notice and comment; (ii) provides for determining— (I) the size of a manufacturing concern as measured by the manufacturing concern’s average employment based upon employment during each of the manufacturing concern’s pay periods for the preceding 24 months; (II) the size of a business concern providing services on the basis of the annual average gross receipts of the business concern over

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

15 U.S.C. § 9008 — United States Treasury program management authority

**(a) Definitions** In this section— (1) the terms “appropriate Federal banking agency” and “insured depository institution” have the meanings given those terms in [section 1813 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim); (2) the term “insured credit union” has the meaning given the term in [section 1752 of title 12](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1752&num=0&edition=prelim); and (3) the term “Secretary” means the Secretary of the Treasury. **(b) Authority to include additional financial institutions** The Department of the Treasury, in consultation with the Administrator, and the Chairman of the Farm Credit Administration shall establish criteria for insured depository institutions, insured credit unions, institutions of the Farm Credit System chartered under the Farm Credit Act of 1971 ([12 U.S.C. 2001](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section2001&num=0&edition=prelim) et seq.), and other lenders that do not already participate in lending under programs of the Administration, to participate in the paycheck protection program to provide loans under this section until the date on which the national emergency declared by the President under the National Emergencies Act ([50 U.S.C. 1601](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title50-section1601&num=0&edition=prelim) et seq.) with respect to the Coronavirus Disease 2019 (COVID–19) expires. **(c) Safety and soundness** An insured depository institution, insured credit union, institution of the Farm Credit System chartered under the Farm Credit Act of 1971 ([12 U.S.C. 2001](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-secti

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

5 U.S.C. § 553 — Rule making

**(a)** This section applies, according to the provisions thereof, except to the extent that there is involved— (1) a military or foreign affairs function of the United States; or (2) a matter relating to agency management or personnel or to public property, loans, grants, benefits, or contracts. **(b)** General notice of proposed rule making shall be published in the Federal Register, unless persons subject thereto are named and either personally served or otherwise have actual notice thereof in accordance with law. The notice shall include— (1) a statement of the time, place, and nature of public rule making proceedings; (2) reference to the legal authority under which the rule is proposed; (3) either the terms or substance of the proposed rule or a description of the subjects and issues involved; and (4) the Internet address of a summary of not more than 100 words in length of the proposed rule, in plain language, that shall be posted on the Internet website under section 206(d) of the E-Government Act of 2002 ([44 U.S.C. 3501](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title44-section3501&num=0&edition=prelim) note) (commonly known as regulations.gov). Except when notice or hearing is required by statute, this subsection does not apply— (A) to interpretative rules, general statements of policy, or rules of agency organization, procedure, or practice; or (B) when the agency for good cause finds (and incorporates the finding and a brief statement of reasons therefor in the rules issued) that notice and public procedure thereon are impracticable, unnecessary, or contrary to the public interest. **(c)** After notice required by this section, the agency shall give interested persons an opportunity to participate in the rule making through subm

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

28 U.S.C. § 1746 — Unsworn declarations under penalty of perjury

Wherever, under any law of the United States or under any rule, regulation, order, or requirement made pursuant to law, any matter is required or permitted to be supported, evidenced, established, or proved by the sworn declaration, verification, certificate, statement, oath, or affidavit, in writing of the person making the same (other than a deposition, or an oath of office, or an oath required to be taken before a specified official other than a notary public), such matter may, with like force and effect, be supported, evidenced, established, or proved by the unsworn declaration, certificate, verification, or statement, in writing of such person which is subscribed by him, as true under penalty of perjury, and dated, in substantially the following form: (1) If executed without the United States: “I declare (or certify, verify, or state) under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed on (date).(Signature)”. (2) If executed within the United States, its territories, possessions, or commonwealths: “I declare (or certify, verify, or state) under penalty of perjury that the foregoing is true and correct. Executed on (date).(Signature)”.

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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. § 9006 — Direct appropriations

**(a) In general** There is appropriated, out of amounts in the Treasury not otherwise appropriated, for the fiscal year ending September 30, 2020, to remain available until September 30, 2021, for additional amounts— (1) $670,335,000,000 under the heading “Small Business Administration—Business Loans Program Account, CARES Act” for the cost of guaranteed loans as authorized under paragraph (36) of [section 636(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim), as added by section 1102(a) of this Act; (2) $675,000,000 under the heading “Small Business Administration—Salaries and Expenses” for salaries and expenses of the Administration; (3) $25,000,000 under the heading “Small Business Administration—Office of Inspector General”, to remain available until September 30, 2024, for necessary expenses of the Office of Inspector General of the Administration in carrying out the provisions of the Inspector General Act of 1978 (5 U.S.C. App.); 11 See References in Text note below. (4) $265,000,000 under the heading “Small Business Administration—Entrepreneurial Development Programs”, of which— (A) $240,000,000 shall be for carrying out [section 9002(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9002/b&num=0&edition=prelim); and (B) $25,000,000 shall be for carrying out [section 9002(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9002/c&num=0&edition=prelim); (5) $10,000,000 under the heading “Department of Commerce—Minority Business Development Agency” for minority business centers of the Minority Business Development Agency to provide technical assistance to small business concerns; (6) $10,000,000,0

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

15 U.S.C. § 9009 — Emergency EIDL grants

Page 2483 TITLE 15—COMMERCE AND TRADE § 9009 and several sections in Title 11, Bankruptcy. For com- plete classification of title I to the Code, see Tables. The Small Business Act, referred to in subsec. (i), is Pub. L. 85–536, § 2(1 et seq.), July 18, 1958, 72 Stat. 384, which is classified generally to chapter 14A (§ 631 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under sec- tion 631 of this title and Tables. AMENDMENTS 2020—Subsec. (d)(2)(D). Pub. L. 116–260 substituted ‘‘section 7A of the Small Business Act’’ for ‘‘section 9005 of this title’’. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 2020 AMENDMENT Amendment by Pub. L. 116–260 effective as if included in Pub. L. 116–136 and applicable to any loan made pur- suant to section 636(a)(36) of this title before, on, or after Dec. 27, 2020, including forgiveness of such a loan, with provisions relating to exclusion of loans already forgiven, see section 304(c) of Pub. L. 116–260, set out as a note under section 636 of this title. CLARIFICATION OF TAX TREATMENT OF CERTAIN LOAN FORGIVENESS AND OTHER BUSINESS FINANCIAL AS- SISTANCE Pub. L. 116–260, div. N, title II, § 278, Dec. 27, 2020, 134 Stat. 1980, provided that: ‘‘(a) UNITED STATES TREASURY PROGRAM MANAGEMENT AUTHORITY.—For purposes of the Internal Revenue Code of 1986 [26 U.S.C. 1 et seq.]— ‘‘(1) no amount shall be included in the gross in- come of a borrower by reason of forgiveness of indebt- edness described in section 1109(d)(2)(D) of the CARES Act [15 U.S.C. 9008(d)(2)(D)], ‘‘(2) no deduction shall be denied, no tax attribute shall be reduced, and no basis increase shall be de- nied, by reason of the exclusion from gross income provided by paragraph (1), and

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