S 397 · 119th Congress · Commerce
Small Business Disaster Damage Fairness Act of 2025
Bill Progress
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Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Read twice and referred to the Committee on Small Business and Entrepreneurship.(2025-02-04)
Plain Language Summary
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Small Business Disaster Damage Fairness Act of 2025 This bill increases from $14,000 to $50,000 the threshold loan amount over which the Small Business Administration (SBA) may require collateral for a disaster loan. The Government Accountability Office must report on the performance, including the default rate, of such loans. Additionally, the SBA must (1) distinguish between rural and urban communities in the outreach and marketing for disaster loans, and (2) incorporate actions to mitigate challenges encountered by rural communities in accessing such loans.…
Summarized by Claude AI · Non-partisan · For informational purposes only