; (2) the Administrator of the Small Business Administration has the authority under the Small Business Act ( 15 U.S.C. 631 et seq.) to reduce the interest charged on loans and to offer borrowers up to 4 years of deferment on the payment of interest and principal; and (3) the Congress encourages the Administrator of the Small Business Administration to use this discretion to provide relief to the hardest hit small businesses that have received or will receive direct loans from the Administration under section 7(b)(2) of the Small Business Act ( 15 U.S.C. 636(b)(2) ). 402. Notices to applicants for economic injury disaster loans or advances Section 7(b)(11) of the Small Business Act ( 15 U.S.C. 636(b)(11) is amended— (1) by striking The Administrator and inserting the following: (A) In general The Administrator ; and (2) by adding at the end the following new subparagraphs: (B) Acceptance criteria and qualifications In carrying out subparagraph (A), the Administrator shall— (i) publish on the website of the Administration a description of the rules issued with respect to a loan made under this subsection, which shall be clear and easy to understand; and (ii) upon receiving an application for a loan under this subsection, provide to the loan applicant the description described in clause (i). (C) Right to explanation of declined loan or advance (i) In general The Administrator shall— (I) provide all applicants for a loan under this subsection or an advance under section 1110(e) of the CARES Act for which the loan or advance application was fully or partially denied with a complete written application of the reason for the denial at the time the decision is made; (II) establish a dedicated telephonic information line and e-mail address to respond to further inquiries about denied applications described in subclause (I)