1. Short title This Act may be cited as the Providing Resources for Emergency Preparedness And Resilient Enterprises Act of 2023 or the PREPARE Act of 2023 . 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 those 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 those concerns from damages related to disasters; ; (2) by redesignating the second paragraph (16) (relating to the statute of limitations) as paragraph (17); and (3) by inserting after paragraph (17), as so redesignated, the following: (18) Pre-disaster mitigation program loans (A) 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. (B) Outreach In carrying out the pre-disaster mitigation program under paragraph (1)(C), the Administrator shall— (i) establish an advertising and outreach program to help small business concerns understand the value of mitigation and that the pre-disaster mitigation program is available for that purpose; (ii) conduct outreach campaigns to small business concerns regarding the pre-disaster mitigation program, including— (I) advertising to educate those concerns on the importance of disaster mitigation; and (II) campaigns to promote participation in the program by small business concerns located in economically depressed areas