1. Short title This Act may be cited as the Providing Resources for Emergency Preparedness and Resilient Enterprises Act or the PREPARE Act . 2. Pre-disaster mitigation program (a) In general Section 7(b) of the Small Business Act ( 15 U.S.C. 636(b) ) is amended— (1) in paragraph (1)(C)— (A) by striking during fiscal years 2000 through 2004, to establish a predisaster mitigation program and inserting to establish a pre-disaster mitigation program ; (B) by inserting in accordance with paragraph (16) and before as the Administrator may ; (C) by striking to enable small businesses and inserting to small business concerns to enable such concerns ; and (D) by striking in support of a formal and all that follows and inserting to protect the commercial real estate, equipment, inventory, supplies, and materials of such concerns from damages related to disasters; ; and (2) by inserting after paragraph (15) the following new paragraph: (16) Pre-disaster mitigation program loans (A) Annual loan cap The aggregate amount of loans made under the pre-disaster mitigation program under paragraph (1)(C) to a borrower may not exceed $500,000 in any 12-month period. (B) Outreach In carrying out the pre-disaster mitigation program under paragraph (1)(C), the Administrator shall— (i) conduct outreach campaigns to small business concerns regarding such program, including— (I) advertising to educate such concerns on the importance of disaster mitigation; and (II) campaigns to promote participation in such program by small business concerns located in economically depressed areas; (ii) provide instructions on how to participate in such program; and (iii) provide detailed information on the purposes for which funds from loans made under such program may be used. (C) Reservation of funds Not more than 4 percent of the funds made available to the Administrator to carry out the pre-disaster mitigation program under paragraph (1)(C) may be reserved by the Administrator for— (i) the administrative costs of such program