15 U.S.C. § 9009: Emergency EIDL grants

the term “covered period” means the period beginning on January 31, 2020 and ending on December 31, 2021 ; and a business with not more than 500 employees; any individual who operates under a sole proprietorship, with or without employees, or as an independent contractor; a cooperative with not more than 500 employees; an ESOP (as defined in section 632 of this title ) with not more than 500 employees; a tribal small business concern, as described in section 657a(b)(2)(C) of this title , with not more than 500 employees; or an agricultural enterprise (as defined in section 647(b) of this title 1 with not more than 500 employees. 1 So in original. Probably should be followed by a closing parenthesis. During the covered period, in addition to small business concerns, private nonprofit organizations, and small agricultural cooperatives, an eligible entity shall be eligible for a loan made under section 636(b)(2) of this title . any rules related 2 the personal guarantee on advances and loans of not more than $200,000 during the covered period for all applicants; 2 So in original. Probably should be followed by “to”. the requirement that an applicant needs to be in business for the 1-year period before the disaster, except that no waiver may be made for a business that was not in operation on January 31, 2020 ; and the requirement in the flush matter following subparagraph (E) of section 636(b)(2) of this title , as so redesignated by subsection (f) of this section, 3 that an applicant be unable to obtain credit elsewhere. 3 See Codification note below. based solely on the credit score of the applicant; or by using alternative appropriate methods to determine an applicant’s ability to repay; and an applicant is eligible to receive such a loan; or the information contained in an application for such a loan is accurate. During the covered period, an entity included for eligibility in subsection (b), including small business concerns, private nonprofit organizations, and small agricultural cooperatives, that applies for a loan under section 636(b)(2) of this title in response to COVID–19 may request that the Administrator provide an advance that is, subject to paragraph (3), in the amount requested by such applicant to such applicant. verify whether the entity is an entity that is eligible for a loan made under section 636(b)(2) of this title during the covered period, as described in subsection (b); 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 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. Before disbursing amounts under this subsection, the Administrator shall verify that the applicant is an eligible entity by accepting a self-certification from the applicant under penalty of perjury pursuant to section 1746 of title 28 . The amount of an advance provided under this subsection shall be not more than $10,000. providing paid sick leave to employees unable to work due to the direct effect of the COVID–19; maintaining payroll to retain employees during business disruptions or substantial slowdowns; meeting increased costs to obtain materials unavailable from the applicant’s original source due to interrupted supply chains; making rent or mortgage payments; and repaying obligations that cannot be met due to revenue losses. An applicant shall not be required to repay any amounts of an advance provided under this subsection, even if subsequently denied a loan under section 636(b)(2) of this title . There is authorized to be appropriated to the Administration $40,000,000,000 to carry out this subsection. The authority to carry out grants under this subsection shall terminate on December 31, 2021 . Notwithstanding any other provision of law, any criminal charge or civil enforcement action alleging that a borrower engaged in fraud with respect to the use of an advance received under this subsection shall be filed not later than 10 years after the offense was committed. the term ‘Administrator’ means the Administrator of the Small Business Administration; and the terms ‘covered entity’ and ‘economic loss’ have the meanings given the terms in section 331(a) of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ) [ 15 U.S.C. 9009b(a) ]. to remain available until expended; and $10,000,000,000 to make payments to covered entities that have not received the full amounts to which the covered entities are entitled under section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ) [ 15 U.S.C. 9009b ]; and has suffered an economic loss of greater than 50 percent; and employs not more than 10 employees; in an amount that is $5,000; and with respect to the covered entity to which the payment is made, in addition to any payment made to the covered entity under section 1110(e) of the CARES Act ( 15 U.S.C. 9009(e) ) or section 331 of the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (title III of division N of Public Law 116–260 ).” the term ‘covered entity’ means an entity that receives an advance under section 1110(e) of the CARES Act ( 15 U.S.C. 9009(e) ), including an entity that received such an advance before the date of enactment of this Act [ Dec. 27, 2020 ]; and 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 [div. N of Pub. L. 116–260 ]. Not later than 15 days after the date of enactment of this Act [ Dec. 27, 2020 ], the Administrator [of the Small Business Administration] shall issue rules that ensure the equal treatment of all covered entities with respect to the amendment made by subsection (c) [amending this section], which shall include consideration of covered entities that, before the date of enactment of this Act, completed the loan forgiveness process described in section 1110(e)(6) of the CARES Act ( 15 U.S.C. 9009(e)(6) ), as in effect before that date of enactment. The notice and comment requirements under section 553 of title 5 , United States Code, shall not apply with respect to the rules issued under paragraph (1).”