Sec. 401. Sense of Congress
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It is the sense of Congress that— many businesses that have received economic injury disaster loans under section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ) continue to suffer from the effects of the COVID–19 pandemic and may not be in a position to make payments in the near term; the Administrator has the authority under the Small Business Act ( 15 U.S.C. 631 et seq.) to reduce the interest charged on loans and to offer borrowers up to 4 years of deferment on the payment of interest and principal; and the Congress encourages the Administrator to use this discretion to provide relief to the hardest hit small businesses that have received or will receive direct loans from the Administration under section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ).
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