Section 28 - ECONOMIC ASSISTANCE TO SMALL BUSINESSES      

SECTION NUMBER:  28

SECTION TITLE :  ECONOMIC ASSISTANCE TO SMALL BUSINESSES

TEXT:
  (a)  Section 7(b) of the Small Business Act, as amended, is amended -
    (1)  by striking out the period at the end of "paragraph (5)" and
  inserting in lieu thereof "; and"; and;
    (2)  by adding after paragraph (5) a new paragraph as follows:
  "(6)  to make such loans (either directly or in cooperation with banks
or other lending institutions through agreements to participate on an
immediate or deferred basis) as the Administration may determine to be
necessary or appropriate to assist any small business concern in effecting
additions to or alterations in the equipment, facilities,or methods of
operation of such business in order to comply with the applicable
standards promulgated pursuant to section 6 of the Occupational Safety and
Health Act of 1970 or standards adopted by a State pursuant to a plan
approved under section 18 of the Occupational Safety and Health Act of
1970, if the Administration determines that such concern is likely to
suffer substantial economic injury without assistance under this
paragraph."
  (b)  The third sentence of section 7(b) of the Small Business Act, as
amended, is amended by striking out "or (5)" after "paragraph (3)" and
inserting a comma followed by "(5) or (6)".
  (c)  Section 4(c)(1) of the Small Business Act, as amended, is amended
by inserting "7(b)(6)," after "7(b)(5),".
  (d)  Loans may also be made or guaranteed for the purposes set forth in
section 7(b)(6) of the Small Business Act, as amended, pursuant to the
provisions of section 202 of the Public Works and Economic Development Act
of 1965, as amended.

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