Small Business Emergency Capital Assistance Act of 2009 - Directs the Administrator of the Small Business Administration (SBA) to carry out a program under which the Administrator may make loans directly to small businesses determined to: (1) be economically healthy; (2) have good credit; and (3) be unable to obtain a loan on reasonable terms from a non-federal source. Limits loan amounts to $1.5 million, with a maximum repayment term of 25 years.
Requires: (1) the Administrator to report annually to the congressional small business committees concerning loans made under the program; and (2) the Comptroller General to evaluate the program's effectiveness and report evaluation results to such committees.