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15 U.S.C. § 9006 — Direct appropriations
Federal law — U.S. Code and appendices · legal_authorities
**(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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Source file: Laws/federal/codes/united-states-code/title-15/section-9006-direct-appropriations--70a951848f.md
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Source location: Title 15, Chapter 116, § 9006; chapter-116-coronavirus-economic-stabilization-cares-act.md
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**(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) $10,000,000,000 under the heading “Small Business Administration—Emergency EIDL Grants” shall be for carrying out [section 9009 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9009&num=0&edition=prelim);
(7) $17,000,000,000 under the heading “Small Business Administration—Business Loans Program Account, CARES Act” shall be for carrying out [section 9011 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9011&num=0&edition=prelim); and
(8) $25,000,000 under the heading “Department of the Treasury—Departmental Offices—Salaries and Expenses” shall be for carrying out [section 9008 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section9008&num=0&edition=prelim).
**(b) Secondary market** During the period beginning on March 27, 2020, and ending on September 30, 2021, guarantees of trust certificates authorized by [section 634(g) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section634/g&num=0&edition=prelim) with respect to loans under any paragraph of [section 636(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim) shall not exceed a principal amount of $100,000,000,000.
**(c) Reports** Not later than 180 days after March 27, 2020, the Administrator shall submit to the Committee on Appropriations of the Senate and the Committee on Appropriations of the House of Representatives a detailed expenditure plan for using the amounts appropriated to the Administration under subsection (a).
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Federal law — U.S. Code and appendices · legal_authorities
**(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
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Definition of covered loan** In this section, the term “covered loan” means a loan that is—
(1) guaranteed by the Administration under—
(A) [section 636(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/a&num=0&edition=prelim)—
(i) including a loan made under the Community Advantage Pilot Program of the Administration; and
(ii) excluding a loan made under paragraph (36) of such [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; or
(B) title V of the Small Business Investment Act of 1958 ([15 U.S.C. 695](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section695&num=0&edition=prelim) et seq.); or
(2) made by an intermediary to a small business concern using loans or grants received under [section 636(m) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section636/m&num=0&edition=prelim).
**(b) Sense of Congress** It is the sense of Congress that—
(1) all borrowers are adversely affected by COVID–19;
(2) relief payments by the Administration are appropriate for all borrowers; and
(3) in addition to the relief provided under this Act, the Administration should encourage lenders to provide payment deferments, when appropriate, and to extend the maturity of covered loans, so as to avoid balloon payments or any requirement for increases in debt payments resulting from deferments provided by lenders during the period of 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 resp
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Federal law — U.S. Code and appendices · legal_authorities
In this title— 11 See References in Text note below.
(1) the terms “Administration” and “Administrator” mean the Small Business Administration and the Administrator thereof, respectively; and
(2) the term “small business concern” has the meaning given the term in [section 632 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(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
The Executive departments are:
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Federal law — U.S. Code and appendices · legal_authorities
**(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
Page 2479
TITLE 15—COMMERCE AND TRADE
§ 9006
1 See References in Text note below.
(iii) the number of unique covered small
business concerns that were served by the
Administration and resource partners; and
(iv) other relevant outcome performance
data with respect to covered small busi-
ness concerns, including the number of
employees affected, the effect on sales, the
disruptions of supply chains, and the ef-
forts made by the Administration and re-
source partners to mitigate these effects;
and
(B) with respect to the grant program
under subsection (c)—
(i) the efforts of the Administrator and
the association or associations to develop
and evolve an online resource for small
business concerns; and
(ii) the efforts of the Administrator and
the association or associations to develop
a training program for resource partner
counselors, including the number of coun-
selors trained.
(Pub. L. 116–136, div. A, title I, § 1103, Mar. 27,
2020, 134 Stat. 294; Pub. L. 116–260, div. N, title
III, § 346(a), Dec. 27, 2020, 134 Stat. 2051.)
Editorial Notes
AMENDMENTS
2020—Subsec. (b)(3)(A). Pub. L. 116–260 designated ex-
isting provisions as cl. (i), inserted heading, and added
cl. (ii).
Statutory Notes and Related Subsidiaries
EFFECTIVE DATE OF 2020 AMENDMENT
Pub. L. 116–260, div. N, title III, § 346(b), Dec. 27, 2020,
134 Stat. 2052, provided that: ‘‘The amendments made
by subsection (a) [amending this section] shall be effec-
tive as if included in the CARES Act (Public Law
116–136; 134 Stat. 281).’’
§ 9003. State Trade Expansion Program
(a) In general
Notwithstanding paragraph (3)(C)(iii) of sec-
tion 649(l) of this title, for grants under the
State Trade Expansion Program under such sec-
tion 649(l) of this title using amounts made
available for fi
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 9006
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