Bill > HR2897

This bill amends the Small Business Act to expand disaster loan eligibility for small businesses experiencing prolonged power outages. Specifically, the bill defines a "prolonged power outage" as an electrical power loss affecting at least 25 homes or businesses in a county or political subdivision, where affected entities sustain uninsured losses of 40% or more of their property's value, or where the power loss continues for at least 48 hours. Under the new provisions, small businesses that receive disaster loans due to prolonged power outages can use the loan proceeds to purchase energy resilience systems like generators, solar panels, wind turbines, microgrids, fuel cells, and batteries, as well as to replace food and drink that was lost or rendered inedible during the power outage. The bill essentially recognizes extended power disruptions as a type of disaster, providing small businesses with additional financial support and resources to recover from and mitigate the impacts of such events.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/2897/all-info