S. 397 · 119th Congress
Small Business Disaster Damage Fairness Act of 2025
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R
KennedySponsor2 cosponsors · 2 D
2 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
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.
What it does: CRS summary · Introduced in Senate · Feb 4, 2025
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Small Business Disaster Damage Fairness Act of 2025
Latest action (Feb 4, 2025): Read twice and referred to the Committee on Small Business and Entrepreneurship.
Policy area: Commerce · Origin: Senate · Introduced: Feb 4, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.