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15 U.S. Code § 9009b. Targeted EIDL advance for small business continuity, adaptation, and resiliency
(a) DefinitionsIn this section:
(1) Agricultural enterprise
The term “agricultural enterprise” has the meaning given the term in section 647(b) of this title.
(2) Covered entityThe term “covered entity”—
(A) means an eligible entity that—
(i)
applies for a loan under section 636(b)(2) of this title during the covered period, including before December 27, 2020;
(ii)
is located in a low-income community;
(iii)
has suffered an economic loss of greater than 30 percent; and
(iv)
employs not more than 300 employees; and
(B)
except with respect to an entity included under section 123.300(c) of title 13, Code of Federal Regulations, or any successor regulation, does not include an agricultural enterprise.
(3) Covered period
The term “covered period” has the meaning given the term in section 9009(a)(1) of this title, as amended by section 332 of this Act.
(4) Economic lossThe term “economic loss” means, with respect to a covered entity—
(A)
the amount by which the gross receipts of the covered entity declined during an 8-week period between March 2, 2020, and December 31, 2021, relative to a comparable 8-week period immediately preceding March 2, 2020, or during 2019; or
(B)
if the covered entity is a seasonal business concern, such other amount determined appropriate by the Administrator.
(5) Eligible entity
The term “eligible entity” means an entity that, during the covered period, is eligible for a loan made under section 636(b)(2) of this title, as described in section 9009(b) of this title.