; and (3) by adding at the end the following new clause: (viii) Additional requirements for news broadcast entities (I) In general With respect to an individual physical location of a business concern described in clause (iii)(II), each such location shall be treated as an independent, nonaffiliated entity for purposes of this paragraph. A parent company, investment company, or management company of one or more physical locations of a business concern described in clause (iii)(II) shall not be eligible for a covered loan. (II) Demonstration of need Any such location that is a franchise or affiliate of, or owned or controlled by a parent company, investment company, or the management thereof, shall demonstrate, upon request of the Administrator, the need for a covered loan to support the continued provision of local news, information, content, or emergency information, and, at the time of disbursal, the individual physical location. (III) Report The Administrator and Secretary of the Treasury shall submit to the Committee on Small Business of the House of Representatives, the Committee on Small Business and Entrepreneurship of the Senate, and the Congressional Oversight Commission established under section 4020 of the CARES Act a report including information on loans made to an entity described under this clause. . (f) Application of certain terms through life of covered loan Section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ) is amended— (1) in subparagraph (H), by striking During the covered period, with and inserting With ; (2) in subparagraph (I), by striking During the covered period, the and inserting The ; (3) in subparagraph (J), by striking During the covered period, with and inserting With ; (4) in subparagraph (M)— (A) in clause (ii), by striking During the covered period, the and inserting The