What is the Immediate Disaster Assistance Program?

CFR · 2024-01-01 · US · Title 13

(a) The Immediate Disaster Assistance Program (IDAP) is a guaranteed disaster loan program for small businesses that have suffered physical damage or economic injury due to a Declared Disaster. An IDAP loan is an interim loan in an amount not to exceed $25,000 made by an IDAP Lender to meet the immediate business needs of an IDAP Borrower while approval of long-term financing from a Disaster Loan is pending with SBA. (b) (i) SBA notice to the IDAP Lender of decline of the IDAP Borrower's Disaster Loan application; (ii) Receipt by the IDAP Lender of partial repayment of the IDAP loan from the proceeds of the Disaster Loan; or (iii) Final disbursement of the IDAP loan, whichever is later, and ends when the IDAP loan is repaid in full.

official document · source cfr-2024 · id 13:§ 123.700