Sec. 204. Small business loans for entrepreneurs
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The Small Business Act ( 15 U.S.C. 631 et seq.) is amended— in section 7(a) ( 15 U.S.C. 636(a) ), by adding at the end the following: The Administrator, acting through the Director of the Office of Coal Country Small Business described in section 49, may guarantee loans under this subsection to individuals who lost their jobs at a coal power plant or coal mine and seek to establish a small business concern. ; by redesignating section 49 ( 15 U.S.C. 631 note) as section 50; and by inserting after section 48 ( 15 U.S.C. 657u ) the following:
There is established within the Administration the Office of Coal Country Small Business (in this section referred to as the Office ). The Office will be responsible for— providing business training, counseling, and access to credit and capital to small business concerns owned and controlled by former coal power plant or coal mine workers; and administering the loan program under section 7(a)(36). The Office shall be headed by the Director of the Office of Coal Country Small Business, who shall— be appointed by the President, by and with the advice and consent of the Senate; be a former coal mine worker; and appoint a coal country specialist to be located at each regional office of the Administration, who shall be responsible for soliciting small business concerns to participate in the loan program carried out under this section.
The Office shall be located in an area of the United States that has been impacted by the decline of the coal industry. .
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