Install
Small Business Disaster Damage Fairness Act of 2025
A bill to amend the Small Business Act to increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes.
- Introduced
- Committee
- Passed Senate
- Passed House
- To President
- Became law
Summary
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.
Summary by the Congressional Research Service, Library of Congress.
Actions
- Feb 4, 2025 Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Feb 4, 2025 Introduced in Senate
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