Sec. 3. Report on ineligible duplicate loans
210 words·~1 min read·
/bill/117/hr/2799/ih/section-3A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Not later than 1 week after the date of the enactment of this Act, and weekly thereafter until the last day of the covered period (as defined in section 7(a)(36)(A) of the Small Business Act ( 15 U.S.C. 636(a)(36)(A) ), the Administrator of the Small Business Administration shall submit to the Committees on Banking, Housing, and Urban Affairs and Small Business and Entrepreneurship of the Senate, and the Committees on Financial Services and Small Business of the House of Representatives, a report on ineligible duplicate loans (as described under section 7A(m) of the Small Business Act, as added by this Act) that includes— the number of attempted applications for such ineligible duplicate loans; the number of processed applications for such ineligible duplicate loans; dollars disbursed for such ineligible duplicate loans; and actions taken by the Administrator to— review potential disbursements for such ineligible duplicate loans; recover improper disbursements for such ineligible duplicate loans; strengthen technical systems to ensure the detection of such ineligible duplicate loan applications; and provide guidance to lenders on such ineligible duplicate loan applications.
Not later than 7 days after the date on which the Administrator submits a report required under subsection (a), the Administrator shall publish such report on a website of the Small Business Administration.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 3
Report on ineligible duplicate loans
Cites 1Cited by 0 across 0 sources