SMALL BUSINESS ADMINISTRATION ISSUES RULE: IMPROVING SBA DISASTER LOAN ABILITY TO PROVIDE MEANINGFUL AND TIMELY ASSISTANCE

WASHINGTON, Jan. 29 -- Small Business Administration has issued a rule called: Improving SBA Disaster Loan Ability To Provide Meaningful and Timely Assistance.

The rule was published in the Federal Register on Jan. 29 by Kelly Loeffler, Administrator.

Summary: The U.S. Small Business Administration (SBA or Agency) is issuing this interim final rule (IFR) to ensure the timely and effective delivery of assistance under the Disaster Loan Program authorized under section 7(b) of the Small Business Act (15 U.S.C. 636(b)) ("Disaster Loan Program") following a Presidentially declared disaster. This rule preempts certain state and local requirements impacting the repair, rehabilitation, or replacement of damaged or destroyed property and associat...