S 397 · in committee · significant
Small Business Disaster Damage Fairness Act of 2025
- economy
What this bill does
- Raises the loan amount threshold for Small Business Administration disaster loans that require collateral from $14,000 to $50,000.
- Affects small businesses seeking disaster recovery loans, particularly those in rural communities.
- Requires GAO reporting on loan performance and SBA to improve rural outreach for disaster assistance.
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Community Threads
Started by Cosponsor
- 01
How would raising the collateral threshold from $14,000 to $50,000 change which small businesses can access disaster loans without pledging assets?
- 02
What evidence should Congress review about how disaster loan performance differs between rural and urban small businesses before implementing this change?
- 03
Which small businesses might face higher borrowing costs or stricter terms if they must now collateralize loans previously available without collateral?
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Sponsor · R-LA
John Kennedy
Citizen cosponsors
0
In Congress
2/ 100
Senators cosponsoring
Introduced 2025-02-04
Joining the bill
Legislative timeline
2025-02-04 · senate · IntroReferral
Read twice and referred to the Committee on Small Business and Entrepreneurship.
2025-02-04 · IntroReferral
Introduced in Senate
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