Loans for eligible applicants during the shutdown

(a) In general The Administrator of the Small Business Administration shall carry out a program under which an eligible applicant may receive a covered loan during a shutdown. (b) Terms A covered loan made under this section shall— (1) be in an amount equal to the losses estimated by the eligible applicant due to the shutdown; (2) bear a maximum interest rate of one percent; and (3) have a maximum maturity of one year from the date on which the shutdown is terminated. (c) Definitions In this Act: (1) Eligible applicant The term eligible applicant has the meaning given the term eligible recipient in section 7(a)(36) of the Small Business Act (15 U.S.C. 636(a)(36)). (2) Covered loan The term covered loan means a loan made under section 7(a) of the Small Business Act (15 U.S.C. 636(a)). (3) Shutdown The term shutdown means the period— (A) beginning on the first day on which there is a partial or full lapse in appropriations; and (B) ending on the date that is 30 days after the date of the enactment of appropriations.