Sec. 5002. Targeted EIDL advance
249 words·~1 min read·
/bill/117/hr/1319/eas/section-5002A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In this section— the term Administrator means the Administrator of the Small Business Administration; and the terms covered entity and economic loss have the meanings given the terms in section 331(a) of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ). In addition to amounts otherwise available, there is appropriated to the Administrator for fiscal year 2021, out of any money in the Treasury not otherwise appropriated, $15,000,000,000— to remain available until expended; and of which, the Administrator shall use— $10,000,000,000 to make payments to covered entities that have not received the full amounts to which the covered entities are entitled under section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ); and $5,000,000,000 to make payments under section 1110(e) of the CARES Act ( 15 U.S.C. 9009(e) ), each of which shall be— made to a covered entity that— has suffered an economic loss of greater than 50 percent; and employs not more than 10 employees; in an amount that is $5,000; and with respect to the covered entity to which the payment is made, in addition to any payment made to the covered entity under section 1110(e) of the CARES Act ( 15 U.S.C. 9009(e) ) or section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ).
Connectionstraces to 2
Traces to 2 documents
public-private-law
U.S. Code
Citation graph
cites case law
Cites 2Cited by 0 across 0 sources