Sec. 331. TARGETED EIDL ADVANCE FOR SMALL BUSINESS CONTINUITY, ADAPTATION, AND RESILIENCY
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## SEC. 331 TARGETED EIDL ADVANCE FOR SMALL BUSINESS CONTINUITY, ADAPTATION, AND RESILIENCY **[**[15 U.S.C. 9009b](/us/usc/t15/s9009b)**]** ###
(a)Definitions In this section: ####
(1)Agricultural enterprise The term “agricultural enterprise” has the meaning given the term in section 18(b) of the Small Business Act (15 U.S.C. 647(b)). ####
(2)Covered entity The term “covered entity”— #####
(A)means an eligible entity that— ######
(i)applies for a loan under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) during the covered period, including before the date of enactment of this Act; ######
(ii)is located in a low-income community; ######
(iii)has suffered an economic loss of greater than 30 percent; and ######
(iv)employs not more than 300 employees; and #####
(B)except with respect to an entity included under section 123.300(c) of title 13, Code of Federal Regulations, or any successor regulation, does not include an agricultural enterprise. ####
(3)Covered period The term “covered period” has the meaning given the term in section 1110(a)(1) of the CARES Act (15 U.S.C. 9009(a)(1)), as amended by section 332 of this Act. ####
(4)Economic loss The term “economic loss” means, with respect to a covered entity— #####
(A)the amount by which the gross receipts of the covered entity declined during an 8-week period between March 2, 2020, and December 31, 2021, relative to a comparable 8-week period immediately preceding March 2, 2020, or during 2019; or #####
(B)if the covered entity is a seasonal business concern, such other amount determined appropriate by the Administrator. ####
(5)Eligible entity The term “eligible entity” means an entity that, during the covered period, is eligible for a loan made under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)), as described in section 1110(b) of the CARES Act (15 U.S.C. 9009(b)). ####
(6)Low-income community The term “low-income community” has the meaning given the term in section 45D(e) of the Internal Revenue Code of 1986. ###
(b)Entitlement to Full Amount ####
(1)In general Subject to paragraph (2), a covered entity, after submitting a request to the Administrator that the Administrator verifies under subsection (c), shall receive a total of $10,000 under section 1110(e) of the CARES Act (15 U.S.C. 9009(e)), without regard to whether— #####
(A)the applicable loan for which the covered entity applies or applied under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) is or was approved; #####
(B)the covered entity accepts or accepted the offer of the Administrator with respect to an approved loan described in subparagraph (A); or #####
(C)the covered entity has previously received a loan under section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)). ####
(2)Effect of previously received amounts #####
(A)In general With respect to a covered entity that received an emergency grant under section 1110(e) of the CARES Act (15 U.S.C. 9009(e)) before the date of enactment of this Act, the amount of the payment that the covered entity shall receive under this subsection (after satisfaction of the procedures required under subparagraph (B)) shall be the difference between $10,000 and the amount of that previously received grant. #####
(B)Procedures If the Administrator receives a request under paragraph
(1)from a covered entity described in subparagraph
(A)of this paragraph, the Administrator shall, not later than 21 days after the date on which the Administrator receives the request— ######
(i)perform the verification required under subsection (c); ######
(ii)if the Administrator, under subsection (c), verifies that the entity is a covered entity, provide to the covered entity a payment in the amount described in subparagraph (A); and ######
(iii)with respect to a covered entity that the Administrator determines is not entitled to a payment under this section, provide the covered entity with a notification explaining why the Administrator reached that determination. #####
(C)Rule of construction Nothing in this paragraph may be construed to require any entity that received an emergency grant under section 1110(e) of the CARES Act (15 U.S.C. 9009(e)) before the date of enactment of this Act to repay any amount of that grant. ###
(c)Verification In carrying out this section, the Administrator shall require any information, including any tax records, from an entity submitting a request under subsection
(b)that the Administrator determines to be necessary to verify that the entity is a covered entity, without regard to whether the entity has previously submitted such information to the Administrator. ###
(d)Order of Processing The Administrator shall process and approve requests for payments under subsection
(b)in the order that the Administrator receives the requests, except that the Administrator shall give— ####
(1)first priority to covered entities described in subsection (b)(2)(A); and ####
(2)second priority to covered entities that have not received emergency grants under section 1110(e) of the CARES Act (15 U.S.C. 9009(e)), as of the date on which the Administrator receives such a request, because of the unavailability of funding to carry out such section 1110(e). ###
(e)Applicability In addition to any other restriction imposed under this section, any eligibility restriction applicable to a loan made under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)), including any restriction under section 123.300 or 123.301 of title 13, Code of Federal Regulations, or any successor regulation, shall apply with respect to funding provided under this section. ###
(f)Notification Required The Administrator shall provide notice to each of the following entities stating that the entity may be eligible for a payment under this section if the entity satisfies the requirements under clauses (ii), (iii), and
(iv)of subsection (a)(2)(A): ####
(1)Each entity that received an emergency grant under section 1110(e) of the CARES Act (15 U.S.C. 9009(e)) before the date of enactment of this Act. ####
(2)Each entity that, before the date of enactment of this Act— #####
(A)applied for a loan under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)); and #####
(B)did not receive an emergency grant under section 1110(e) of the CARES Act (15 U.S.C. 9009(e)) because of the unavailability of funding to carry out such section 1110(e). ###
(g)Administration In carrying out this section, the Administrator may rely on loan officers and other personnel of the Office of Disaster Assistance of the Administration and other resources of the Administration, including contractors of the Administration. ###
(h)Authorization of Appropriations There are authorized to be appropriated to the Administrator $20,000,000,000 to carry out this section— ####
(1)which shall remain available through December 31, 2021; and ####
(2)of which $20,000,000 is authorized to be appropriated to the Inspector General of the Administration to prevent waste, fraud, and abuse with respect to funding provided under this section.
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Sec. 331
TARGETED EIDL ADVANCE FOR SMALL BUSINESS CONTINUITY, ADAPTATION, AND RESILIENCY
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