Authority Regulation

AUTHORITIES FOR COVID-19 ECONOMIC INJURY LOANS

1. CORONAVIRUS PREPAREDNESS AND RESPONSE SUPPLEMENTAL APPROPRIATIONS ACT, 2020 , Pub. L. 116-123

TITLE II

SMALL BUSINESS ADMINISTRATION

Disaster Loans Program Account

(including transfers of funds)

For an additional amount for the ``Disaster Loans Program Account''

for administrative expenses to carry out the disaster loan program

authorized by section 7(b) of the Small Business Act, $20,000,000, to

remain available until expended: Provided, That such amounts may be

transferred to and merged with ``Small Business Administration--Salaries

and Expenses'': Provided further, That for purposes of section

7(b)(2)(D) of the Small Business Act, coronavirus shall be deemed to be

a disaster and amounts available under ``Disaster Loans Program

Account'' for the cost of direct loans in any fiscal year may be used to

make economic injury disaster loans under such section in response to

the coronavirus:

2. Coronavirus Aid, Relief, and Economic Security Act, Pub. L. 116-136

SEC. 1110. EMERGENCY EIDL GRANTS.

(a) Definitions.—In this section—

(1) the term “covered period” means the period beginning on January 31, 2020 and ending on December 31, 2020; 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 3 of the Small Business Act (15 U.S.C. 632)) with not more than 500 employees; or

(E) a tribal small business concern, as described in section 31(b)(2)(C) of the Small Business Act (15 U.S.C. 657a(b)(2)(C)), 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 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)).

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(e) Emergency Grant.—

(1) IN GENERAL.—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 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) 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 within 3 days after the Administrator receives an application from such applicant.

3. Paycheck Protection Program and Health Care Enhancement Act,

Pub. L. 116-139

DIVISION A—SMALL BUSINESS PROGRAMS

SEC. 101. AMENDMENTS TO THE PAYCHECK PROTECTION PROGRAM, ECONOMIC INJURY DISASTER LOANS, AND EMERGENCY GRANTS.

(a) Increased Authority For Commitments And Appropriations For Paycheck Protection Program.—Title I of division A of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136) is amended—

(1) in section 1102(b)(1), by striking “$349,000,000,000” and inserting “$659,000,000,000”; and

(2) in section 1107(a)(1), by striking “$349,000,000,000” and inserting “$670,335,000,000”.

(b) Increased Authorization For Emergency EIDL Grants.—Section 1110(e)(7) of division A of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136) is amended by striking “$10,000,000,000” and inserting “$20,000,000,000”.

(c) Eligibility Of Agricultural Enterprises For Economic Injury Disaster Loans And Emergency Grants.—Section 1110(a)(2) of division A of the Coronavirus Aid, Relief, and Economic Security Act (Public Law 116–136) is amended—

(1) in subparagraph (D), by striking “or” at the end;

(2) in subparagraph (E), by striking the period at the end and inserting “; or”; and

(3) by adding at the end the following:

“(F) an agricultural enterprise (as defined in section 18(b) of the Small Business Act (15 U.S.C. 647(b)) with not more than 500 employees.”.