12 2 STA T . 1 4 1 8PUBLIC LA W 11 0– 2 3 4 —M A Y 22 , 2008 ‘ ‘ (I I )me e ti t sord i na r y and ne c essary o p eratin g e x penses
or ‘‘(III) mar k et , prod u ce, or pro v ide a product or service ordinari l y marketed, produced, or pro - vided b yt h e business concern because the business concern relies on materials f rom the disaster area or sells or markets in the disaster area; and ‘‘(iii) the term ‘eligible small business concern ’ means a small business concern — ‘‘(I) that has suffered disaster-related substan- tial economic in j ury as a result of the applicable major disaster; and ‘‘(II)(aa) for w hich not less than 25 percent of the market share of that small business concern is from business transacted in the disaster area; ‘‘(bb) for which not less than 25 percent of an input into a production process of that small business concern is from the disaster area; or ‘‘(cc) that relies on a provider located in the disaster area for a service that is not readily avail- able elsewhere . ’’. SEC.12083 . PRIVAT E D ISASTER LO A N S. (a) I NGE NE RAL .— S ection 7 of the Small B usiness A ct( 1 5 U .S. C . 63 6) is amended by inserting after subsection (b) the fol- lowing
‘‘(c) P R IV A T E D I S ASTER LO ANS.— ‘‘(1) DE F INITIONS.—In this subsection— ‘‘(A) the term ‘disaster area’ means any area for which the President declared a major disaster relating to which the Administrator declares eligibility for additional disaster assistance under subsection (b)( 9 ), during the period of that major disaster declaration; ‘‘(B) the term ‘eligible individual’ means an individual who is eligible for disaster assistance under subsection (b)(1) relating to a major disaster relating to which the Administrator declares eligibility for additional disaster assistance under subsection (b)(9); ‘‘(C) the term ‘eligible small business concern’ means a business concern that is— ‘‘(i) a small business concern, as defined under this Act; or ‘‘(ii) a small business concern, as defined in section 1 0 3 of the Small Business Investment Act of 195 8
‘‘(D) the term ‘preferred lender’ means a lender partici- pating in the Preferred Lender Program; ‘‘( E ) the term ‘Preferred Lender Program’ has the meaning given that term in subsection (a)(2)(C)(ii); and ‘‘( F )theterm‘ q ualified private lender’ means any pri- vately-owned bank or other lending institution that— ‘‘(i) is not a preferred lender; and ‘‘(ii) the Administrator determines meets the cri- teria established under paragraph (10). ‘‘(2) PRO G RA M RE QU IRE D .— T he Administrator shall carry out a program, to be known as the Private Disaster Assistance program, under which the Administration may guarantee timely payment of principal and interest, as scheduled, on
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