1. Short title This Act may be cited as the Maximizing Our Money and Addressing Novel Disasters by Protecting Our Proprietors Act or the MOM-AND-POP Act . 2. Reservation of assistance for small entities (a) Set aside Of amounts appropriated to carry out section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) ), the Administrator of the Small Business Administration shall provide for the cost to guarantee covered loans made under this paragraph a set aside of not less than 25 percent for covered loans with a principal amount of $150,000 or less made to a small entity. (b) Waiver of affiliation rules The waiver of affiliation rules under section 7(a)(36)(D)(iv) of the Small Business Act ( 15 U.S.C. 636(a)(36)(D)(iv) ) shall not apply to a small entity that receives a covered loan because of a set aside under subsection (a). (c) Major disasters For any loan program created after the date of the enactment of this Act by the Administrator in direct response to a major disaster, as determined by the President under the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5121 et seq.), the Administrator shall consider implementing a set aside similar to that described under subsection (a) for such loan program. (d) Definitions In this Act: (1) Small entity The term small entity means— (A) a business concern, nonprofit organization, veterans organization, or Tribal business concern with not more than 25 employees; or (B) a sole proprietor, independent contractor, or eligible self-employed individual (as such terms are under section 7(a)(36) of the Small Business Act ( 15 U.S.C. 636(a)(36) )). (2) Employee The term employee includes individuals employed on a full-time, part-time, or other basis.