§636k Reports on Disaster Assistance

Summary

The Administrator must send regular reports to Congress about how the disaster loan program is working after a major disaster. By the fifth business day of each month during the disaster period, the Administrator must send a monthly report to the Senate Committee on Small Business and Entrepreneurship, the Senate Committee on Appropriations, the House Committee on Small Business, and the House Committee on Appropriations about the prior month. That report must show daily and weekly average lending (number and dollars) and how those numbers changed, money spent and available for loans (both appropriations and program level) and how long that money will last, staff and salary spending and staff counts, administrative costs, and estimates of how long salary/expense funding will last. Each week during a disaster update period the Administrator must send a weekly report to the Senate Committee on Small Business and Entrepreneurship and the House Committee on Small Business about the declared area. It must list staff assigned and where they are, and daily counts (by State) of applications received, pending entry, withdrawn, summarily declined, declined, in process, approved, dollar amounts approved, loans disbursed (number and dollars), totals since the last report, and the declaration date(s), closing dates, and number of counties. If extra assistance is declared, monthly reports must say how many applications were distributed and received, average approval time, amount approved, average time to first disbursement, and amount disbursed. On the same date the Administrator tells any congressional committee that supplemental funds are needed, the Administrator must also notify the two Small Business committees. Within 6 months of a disaster declaration and every 6 months until 18 months after, the Administrator must report to the two Small Business committees on federal contracts tied to the disaster (total contracts and counts for small, women/minority-owned, and local businesses). Within 6 months after enactment, the Administrator must give a report to the two Small Business committees with recommendations and plans to improve loan processing, staffing, alternative credit checks (including the applicant’s credit score the day before the disaster), speeding verification for key businesses, needed legislative changes, and how to coordinate with technical assistance.