Intermediary Lending Program News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Jan 25, 2021
WASHINGTON The U.S. Small Business Administration invites public comment on a proposed rule designed to remove regulatory provisions that exclude certain faith-based organizations from seven business loan and disaster assistance programs.
These programs include the Intermediary Lending Program (ILP), Business Loan programs (7(a), Microloan and 504 programs), Economic Injury Disaster Loan (EIDL) program, Military Reservist Economic Injury Disaster Loan (MREIDL) program and Immediate Disaster Assistance Program (IDAP).
Because these provisions exclude otherwise eligible applicants based on their religious status, they violate their constitutionally guaranteed religious liberty rights. By eliminating the provisions, the proposed rule would ensure that SBA’s programs provide equal treatment for faith-based organizations, which the Constitution requires, and would correspond with the President’s Executive Order Promoting Free Speech and Religious Liber ....

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