12 2 STA T .6 2 9PUBLIC LA W 11 0– 1 8 6 —FE B.1 4, 2008 SEC.20 2. R ESER VI S TLOAN S. (a)INGE NE RAL.—TheAdmin i str at o r and the S e c retar y o fD efense sha l lde v elo p a j oint w e b site and printed materials pro - vidin g information regarding any program for small b u siness con- cerns that is available to veterans or R eservists. (b) M AR K E TI N G .—The Administrator is authori z ed— ( 1 ) to advertise and promote the program under section 7 (b)( 3 ) of the Small B usiness Act jointly with the Secretary of Defense and veterans ’ service organizations
and ( 2 ) to advertise and promote participation by lenders in such program jointly with trade associations for ban k s or other lending institutions. SEC. 20 3 . NONCOLLATERALI Z E D LOANS. Section 7(b)(3) of the Small Business Act (1 5U .S. C . 6 36(b)(3)) is amended by adding at the end the following
- ‘
‘(G)(i) N otwithstanding any other provision of law , the Administrator may make a loan under this paragraph of not more than $ 5 0 ,000 without collateral. ‘‘(ii) The Administrator may defer payment of principal and interest on a loan described in clause (i) during the longer of— ‘‘(I) the 1-year period beginning on the date of the initial disbursement of the loan; and ‘‘(II) the period during which the relevant essential employee is on active duty.’’. SEC. 20 4 . LOAN P RIORIT Y . Section 7(b)(3) of the Small Business Act (15 U.S.C. 636(b)(3)), as amended by this Act, is amended by adding at the end the following: ‘‘( H ) The Administrator shall give priority to any application for a loan under this paragraph and shall process and make a determination regarding such applica- tions prior to processing or making a determination on other loan applications under this subsection, on a rolling basis.’’. SEC. 20 5 . RELIE F FRO M TIME LIMITATIONS FOR VETERAN - O W NED SMALL BU SINESSES. Section 3( q ) of the Small Business Act (15 U.S.C. 632(q)) is amended by adding at the end the following: ‘‘(5) RELIE F FR OM TIME LIMITATION S .— ‘‘(A) IN GENERAL.—Any time limitation on any quali- fication, certification, or period of participation imposed under this Act on any program that is available to small business concerns shall be e x tended for a small business concern that— ‘‘(i) is owned and controlled by— ‘‘(I) a veteran who was called or ordered to active duty under a provision of law specified in section 101(a)(13)(B) of title 10, United States Code, on or after September 11, 2001; or ‘‘(II) a service-disabled veteran who became such a veteran due to an injury or illness incurred or aggravated in the active military, naval, or air service during a period of active duty pursuant to a call or order to active duty under a provision Websit e .15USC63 6 no te.
�
