A bill to amend the Small Business Act to repeal the credit elsewhere test in determining the interest rates applicable to homeowners and businesses on disaster loans.

[AI summary unavailable — showing source text] Amends the Small Business Act to repeal provisions which specify the maximum interest rates on disaster loans made by the Small Business Administration (SBA) to homeowners and small businesses unable to obtain credit elsewhere. Specifies the maximum interest rate which shall apply to all disaster loans made by the SBA.…