Sec. 205. Loan authorization
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Section 7(a)(1) of the Small Business Act ( 15 U.S.C. 636(a)(1) ), as amended by section 204(a) of this Act, is amended by adding at the end the following: With respect to a loan made or guaranteed under this subsection, the Administration shall issue a written agreement providing the terms and conditions under which the Administration will make or guarantee the loan. A written agreement issued under clause
(i)is not a contract to make a loan. . Section 502 of the Small Business Investment Act of 1958 ( 15 U.S.C. 696 ), as amended by section 204(b) of this Act, is amended by adding at the end the following: With respect to a loan made under this section, the Administration shall issue a written agreement providing the terms and conditions under which the Administration will make the loan. A written agreement issued under subparagraph
(A)is not a contract to make a loan. .
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