; and (II) shall not be required to obtain a guarantee of timely payment of the loan or financing to be eligible for a loan or financing that is not more than $500,000 under the authority under clause (i). (C) Limitation on basis for ineligibility The Administrator may not determine that a covered nonprofit child care center provider is not eligible for a loan or financing described in subparagraph (B)(i) on the basis that the proceeds of the loan or financing will be used for a religious activity protected under the First Amendment to the Constitution of the United States, as interpreted by the courts of the United States. . (b) Reporting (1) Definition In this subsection, the term covered nonprofit child care provider has the meaning given the term in paragraph (10) of section 3(a) of the Small Business Act ( 15 U.S.C. 632(a) ), as added by subsection (a). (2) Requirement Not later than 1 year after the date of enactment of this Act, and annually thereafter, the Administrator of the Small Business Administration shall submit to Congress a report that contains— (A) for the year covered by the report— (i) the number of loans made under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ) and the number of financings provided under title V of the Small Business Investment Act of 1958 ( 15 U.S.C. 695 et seq. ) to covered nonprofit child care providers; and (ii) the amount of such loans made and the amount of such financings provided to covered nonprofit child care providers; and (B) any other information determined relevant by the Administrator.