Section 1. Waiver of interest accrual and payments for certain disaster loans
Section 7(d) of the Small Business Act (15 U.S.C. 636(d)) is amended by adding at the end the following paragraph:
(9) Waiver of interest accrual and payments
With respect to a loan made under subsection (b) for disasters declared on or after the date of the enactment of this paragraph, the Administrator shall, for the 12-month period beginning on the date of disbursement of such loan—
(A) establish a rate of interest on such loan of zero percent; and
(B) defer payments on the principal of such loan.