; (ii) any requirement that the small eligible entity exhaust other loan options before applying for a loan under this subsection; and (iii) any requirement that an applicant needs to be in business for the 1-year period before the disaster, except that no waiver may be made for a business that was not in operation on January 31, 2020. (E) Priority In making loans under this subsection the Secretary shall give priority to— (i) small eligible entities located in States most impacted by an economic disaster, as determined by the Secretary; (ii) minority, veteran, and women farmers and ranchers; and (iii) such other small eligible entities as the Secretary determines appropriate. (3) Use of funds A small eligible entity that receives a loan under this subsection shall use the loan funds to— (A) provide paid sick leave to employees unable to work due to the direct effect of an economic disaster; (B) maintain payroll to retain employees during business disruptions or substantial slowdowns; (C) meet increased costs to obtain materials unavailable from the applicant's original source due to interrupted supply chains; (D) make rent or mortgage payments; (E) purchase personal protective equipment; and (F) repay obligations that cannot be met due to revenue losses. (4) Forgiveness A small eligible entity shall be eligible for forgiveness of indebtedness on a loan under this subsection in an amount determined by the Secretary based on the losses of the small eligible entity— (A) due to commodity price decreases during an economic disaster; or (B) revenue loss due to an economic disaster, including from— (i) canceled purchasing contracts or agreements with schools, institutions, food hubs, and restaurants; (ii) loss of recurring deliveries of farm products to schools, institutions, food hubs, and restaurants