Sec. 332. EMERGENCY EIDL GRANTS
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## SEC. 332 EMERGENCY EIDL GRANTS Section 1110 of the CARES Act (15 U.S.C. 9009) is amended— ####
(1)in subsection (a)(1), by striking “December 31, 2020” and inserting “December 31, 2021”; ####
(2)in subsection (d), by striking paragraphs
(1)and
(2)and inserting the following: > > #### “(1) > > approve an applicant— > > > ##### “(A) > > based solely on the credit score of the applicant; or > > > ##### “(B) > > by using alternative appropriate methods to determine an applicant’s ability to repay; and > > > #### “(2) > > use information from the Department of the Treasury to confirm that— > > > ##### “(A) > > an applicant is eligible to receive such a loan; or > > > ##### “(B) > > the information contained in an application for such a loan is accurate.” > ; and ####
(3)in subsection (e)— #####
(A)in paragraph (1)— ######
(i)by striking “ During the covered period ” and inserting the following: > > ##### “(A) Advances > > During the covered period” > ; ######
(ii)in subparagraph (A), as so designated, by striking “within 3 days after the Administrator receives an application from such applicant”; and ######
(iii)by adding at the end the following: > > ##### “(B) Timing > > With respect to each request submitted to the Administrator under subparagraph (A), the Administrator shall, not later than 21 days after the date on which the Administrator receives the request— > > > ###### “(i) > > verify whether the entity is an entity that is eligible for a loan made under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) during the covered period, as described in subsection (b); > > > ###### “(ii) > > if the Administrator, under clause (i), verifies that the entity submitting the request is an entity that is eligible, as described in that clause, provide the advance requested by the entity; and > > > ###### “(iii) > > with respect to an entity that the Administrator determines is not entitled to receive an advance under this subsection, provide the entity with a notification explaining why the Administrator reached that determination.” > ; #####
(B)in paragraph (7), by striking “ $20,000,000,000” and inserting “ $40,000,000,000”; and #####
(C)in paragraph (8), by striking “December 31, 2020” and inserting “December 31, 2021”.
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