Summary

GAO reviewed the Small Business Administration's (SBA) interim rule on the Disaster Loan Program. GAO noted that (1) the rule would allow SBA to make economic disaster loans to eligible small business concerns outside the declared disaster areas that suffered substantial economic injury as a direct result of the destruction of the World Trade Center in New York, or the damage to the Pentagon on September 11, 2001, or as a direct result of any related federal action taken between September 11, 2001, and October 22, 2001, and (2) SBA complied with the applicable requirements in promulgating the rule.