1. Short title This Act may be cited as the Equity for Disaster Victims Act of 2017 . 2. Use of certain Superstorm Sandy grant funds for repayment of certain disaster assistance provided by the Small Business Administration Section 7(f) of the Small Business Act ( 15 U.S.C. 636(f) ) is amended by adding at the end the following new paragraph: (2) Superstorm Sandy CDBG–DR grant funds (A) In general (i) Loans to repair, rehabilitate, or replace real property A small business concern, homeowner, or nonprofit entity that received a loan pursuant to subsection (b)(1)(A) for the purpose of repairing, rehabilitating, or replacing real property damaged or destroyed by or as a result of Superstorm Sandy may receive Superstorm Sandy CDBG–DR grant funds only if such grant funds will be used to repay the principal and any interest accrued on the loan. (ii) Loans to refinance a mortgage A small business concern, homeowner, or nonprofit entity that received a loan pursuant to subsection (b)(1)(B) to refinance a mortgage or other lien against a home or business concern that was totally destroyed or substantially damaged by or as a result of Superstorm Sandy may receive Superstorm Sandy CDBG–DR grant funds only if the amount of such grant funds will be used to repay the amount received under such subsection (b)(1)(B). (iii) Additional disaster assistance A small business concern, homeowner, or nonprofit entity that received additional disaster assistance pursuant to subsection (b)(9) for a loan described in clause (i) or the refinancing described in clause (ii) may receive Superstorm Sandy CDBG–DR grant funds only if such grant funds will be used— (I) to repay the principal and any interest accrued on a loan described in clause (i)