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S. 3122

BillFederalSenateIn Committee
Patriot Loan Act of 2006
About This Bill
Committee
Latest Action · May 25, 2006
Read twice and referred to the Committee on Small Business and Entrepreneurship.
Congress
109th (2005–2007)
Introduced
May 25, 2006
Cosponsors (2)
0D 2R
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Summary

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Patriot Loan Act of 2006 - Amends the Small Business Act to increase from $1.5 million to $2 million the loan limit that may be made to a small businesses that has suffered or is likely to suffer substantial economic injury as a result of an essential employee being ordered to active military duty during a period of military conflict. Limits to $25,000 any such loan that is made without collateral. Directs the Administrator of the Small Business Administration (SBA) and the Secretary of Defense to: (1) develop a joint website and printed material providing information on such loan program; and (2) conduct a joint study on the feasibility of creating a business mobilization and interruption insurance program and a debt insurance program for mobilized Guard and reserve personnel who own or operate small businesses.

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