S.4097 - Small Business Disaster Response and Loan Improvements Act of 2006109th Congress (2005-2006)
Summary: S.4097 — 109th Congress (2005-2006)
Introduced in Senate (12/06/2006)
Small Business Disaster Response and Loan Improvements Act of 2006 - Amends the Small Business Act to authorize the Administrator of the Small Business Administration (SBA) to: (1) guarantee the payment of principal and interest on private lender loans to small businesses located in a disaster area; and (2) make disaster loans to private nonprofit organizations located or operating in a disaster area. Increases disaster loan caps.
Authorizes the Administrator to: (1) allow small business development centers (SBDCs) to provide assistance to a small business located outside the state of the SBDC if the business is in a disaster area; (2) establish a contracting outreach and technical assistance program for small businesses having a significant presence in a disaster area; (3) declare a disaster area as an area of concentrated unemployment or underemployment, or a labor surplus area, for purposes of a contracting priority for local small businesses; and (4) establish and implement a disaster assistance business loan program.
Provides for increased public notice of disaster declaration and application periods and deadlines. Authorizes the Administrator to enter into agreements with private contractors to process disaster loans. Requires the Administrator to amend the 2006 hurricane season disaster response plan to apply to major disasters and catastrophic national disasters. Provides for increased congressional oversight of the SBA disaster loan program with respect to presidentially declared disasters.
Authorizes the Administrator to make loans to assist small businesses that have or are likely to suffer substantial economic injury as the result of significant increases in the price of heating fuel due to a disaster-related energy emergency.