Section 3

Section 3. The owner making application for a grant shall, in his application, authorize the Commonwealth to apply the grant to any monthly obligation that he may have on account of a Small Business Administration or Farmers Home Administration loan until such time as the amount of the grant has been expended or the loan repaid, whichever shall first occur. If the loan is repaid prior to the expenditure of the entire amount of the grant, or there is no indebtedness, the balance thereof shall be paid to the owner.