WASHINGTON (March 26, 2013) — The Senate Committee on Small Business & Entrepreneurship is considering four new bills to help small businesses recover in the wake of natural disasters and other difficult situations.
The bills are:
• SB 415, which allows out-of-state Small Business Development Centers to help small businesses in places declared disaster areas by the president, and also requires the Small Business Administration (SBA) to consider business assets before personal homes as collateral for loans;
• SB 511, which enhances the Small Business Investment Company program;
• SB 289, which extends the low-interest financing provisions under the SBA's Local Development Business Loan program; and
• SB 537, which requires the SBA to make information relating to lenders making covered loans publicly available.
The committee held a roundtable conference March 14 on the bills.
"As a senator from a state repeatedly hit hard from natural disasters, I believe that one of the most important responsibilities of this committee is to ensure SBA is fully staffed, better organized and ready to quickly assist businesses post disaster," said Sen. Mary Landrieu, D-La., chairwoman of the Small Business Committee, at the roundtable.