EMERGENCY EIDL GRANTS.

SEC. 332. EMERGENCY EIDL GRANTS. Section 1110 of the CARES Act (15 U.S.C. 9009) is amended— (1) in subsection (a)(1), by striking “December 31, 2020” and inserting “December 31, 2021”; (2) in subsection (d), by striking paragraphs (1) and (2) and inserting the following: “(1) approve an applicant— “(A) based solely on the credit score of the applicant; or “(B) by using alternative appropriate methods to determine an applicant’s ability to repay; and “(2) use information from the Department of the Treasury to confirm that— “(A) an applicant is eligible to receive such a loan; or “(B) the information contained in an application for such a loan is accurate.” ; and (3) in subsection (e)— (A) in paragraph (1)— (i) by striking “During the covered period” and inserting the following: “(A) Advances.—During the covered period” ; (ii) in subparagraph (A), as so designated, by striking “within 3 days after the Administrator receives an application from such applicant”; and (iii) by adding at the end the following: “(B) Timing.—With respect to each request submitted to the Administrator under subparagraph (A), the Administrator shall, not later than 21 days after the date on which the Administrator receives the request— “(i) verify whether the entity is an entity that is eligible for a loan made under section 7(b)(2) of the Small Business Act (15 U.S.C. 636(b)(2)) during the covered period, as described in subsection (b); “(ii) if the Administrator, under clause (i), verifies that the entity submitting the request is an entity that is eligible, as described in that clause, provide the advance requested by the entity; and “(iii) with respect to an entity that the Administrator determines is not entitled to receive an advance under this subsection, provide the entity with a notification explaining why the Administrator reached that determination.” ; (B) in paragraph (7), by striking “ $20,000,000,000” and inserting “ $40,000,000,000”; and (C) in paragraph (8), by striking “December 31, 2020” and inserting “December 31, 2021”.