; and (2) $7,000,000 to provide direct loans under such section 7(m). 14. Electronic submissions for the small business investment company program (a) Purpose The purpose of this section is to quickly provide capital to struggling small business concerns by allowing electronic signatures to expedite the approval process of the Administration for additional investment funds, especially as staff telework. (b) Electronic submissions Unless otherwise prohibited by law or regulation, the Administration shall permit any document submitted under section 103 of the Small Business Investment Act of 1958 ( 15 U.S.C. 662 ) or pursuant to a regulation carrying out title V of such Act ( 15 U.S.C. 695 et seq.) to be submitted electronically, including by permitting an electronic signature for any signature that is required on such a document. (c) Rule of construction Nothing in this section shall be construed to preempt, supersede, or otherwise prohibit private sector requirements, covenants, customary practices, obligations, or legal prohibitions against electronic signatures. 15. Business stabilization direct loan program (a) Definition of eligible borrower In this section, the term eligible borrower means a small business concern that is located in the United States (as defined in section 4(a) of the Small Business Act ( 15 U.S.C. 633(a) )) with a confirmed or presumed positive case of COVID–19. (b) Program The Administrator shall carry out a program to make loans directly to eligible borrowers. (c) Use of funds In addition to the use of loan proceeds permitted under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ), loans made under this section may be used for the following purposes: (1) To make periodic payments of principal and interest, for a period not to exceed 12 months, on a loan or a loan guarantee made to an eligible borrower that meets the eligibility standards of such section 7(a). (2) To provide benefits to employees of the eligible borrower, including group life insurance, disability insurance, sick