{ "id": "R41309", "type": "CRS Report", "typeId": "REPORTS", "number": "R41309", "active": true, "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source": "EveryCRSReport.com", "id": 446709, "date": "2015-10-23", "retrieved": "2016-04-06T18:06:28.292650", "title": "The SBA Disaster Loan Program: Overview and Possible Issues for Congress", "summary": "Through its Office of Disaster Assistance (ODA), the Small Business Administration (SBA) has been a major source of assistance for the restoration of commerce and households in areas stricken by natural and human-caused disasters since the agency\u2019s creation in 1953. Through its disaster loan program, SBA offers low-interest, long-term loans for physical and economic damages to businesses to help repair, rebuild, and recover from economic losses after a declared disaster. The majority of the agency\u2019s disaster loans, however (over 80%) are made to individuals and households (renters and property owners) to help repair and replace homes and personal property.\nThe three main types of loans for disaster-related losses include (1) Home and Personal Property Disaster Loans, (2) Business Physical Disaster Loans, and (3) Economic Injury Disaster Loans (EIDL). Home Physical Disaster Loans provide up to $200,000 to repair or replace disaster-damaged primary residences. Personal Property Loans provide up to $40,000 to replace personal items such as furniture and clothing. Business Physical Disaster Loans provide up to $2 million to help businesses of all sizes and nonprofit organizations repair or replace disaster-damaged property, including inventory and supplies. Business Physical Disaster Loans and EIDLs also provide assistance to small businesses, small agricultural cooperatives (but not enterprises), and certain private, nonprofit organizations that have suffered substantial economic injury resulting from a physical disaster or an agricultural production disaster. EIDLs provide up to $2 million in financial assistance to businesses located in a disaster area that have suffered economic injury as a result of a declared disaster (regardless if there has been physical damage to the business). \nCongressional interest in the Disaster Loan Program has increased in recent years primarily because of concerns about the program\u2019s performance in responding to the Gulf Coast hurricanes of 2005 and 2008 as well as Hurricane Sandy in 2012. \nThis report describes the SBA Disaster Loan Program, including the types of loans available to individuals, households, businesses, and nonprofit organizations, and highlights issues that may be of potential congressional concern. These concerns include SBA loan processing times, the use of personal residences as collateral for business disaster loans, and the implementation of expedited and immediate assistance programs required by Small Business Disaster Response and Loan Improvements Act of 2008.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/R41309", "sha1": "e48dc3ed7e981c66530d8d935e9ebea9016de561", "filename": "files/20151023_R41309_e48dc3ed7e981c66530d8d935e9ebea9016de561.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/R41309", "sha1": "e6e6d360fa29e18be31fc30d4ffb0e28c34a30d9", "filename": "files/20151023_R41309_e6e6d360fa29e18be31fc30d4ffb0e28c34a30d9.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2432, "name": "Disaster Recovery, Mitigation, and Funding" }, { "source": "IBCList", "id": 2636, "name": "Small Business Policy" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc491169/", "id": "R41309_2010Jul29", "date": "2010-07-29", "retrieved": "2015-01-27T19:40:46", "title": "The SBA Disaster Loan Program: Overview and Possible Issues for Congress", "summary": "This report provides an overview of the Disaster Loan Program, discusses how disaster declarations trigger the SBA loan process, explains the different types of loans potentially available to disaster victims, and discusses terms and restrictions related to each type of loan. The report also explains the SBA disaster loan application process and provides national data on SBA loans from 2000 to 2009, including data related to the Gulf Coast hurricanes since 2005.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100729_R41309_b2c110a1f4f5aa8c4016f2535af6d56f4bdf0c2a.pdf" }, { "format": "HTML", "filename": "files/20100729_R41309_b2c110a1f4f5aa8c4016f2535af6d56f4bdf0c2a.html" } ], "topics": [ { "source": "LIV", "id": "Finance", "name": "Finance" }, { "source": "LIV", "id": "Loans", "name": "Loans" }, { "source": "LIV", "id": "Disaster loans", "name": "Disaster loans" }, { "source": "LIV", "id": "Disasters", "name": "Disasters" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc813226/", "id": "R41309_2010Jun29", "date": "2010-06-29", "retrieved": "2016-03-19T13:57:26", "title": "The SBA Disaster Loan Program: Overview and Possible Issues for Congress", "summary": null, "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20100629_R41309_b2c110a1f4f5aa8c4016f2535af6d56f4bdf0c2a.pdf" }, { "format": "HTML", "filename": "files/20100629_R41309_b2c110a1f4f5aa8c4016f2535af6d56f4bdf0c2a.html" } ], "topics": [] } ], "topics": [ "American Law", "Economic Policy" ] }