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S. 397: Small Business Disaster Damage Fairness Act of 2025
119th Congress · introduced 2025-02-04 · Commerce · Latest: Read twice and referred to the Committee on Small Business and Entrepreneurship.
federal
Official title
Small Business Disaster Damage Fairness Act of 2025
Plain 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.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
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Official text
Small Business Disaster Damage Fairness Act of 2025
Source: Congressional Research Service summary (Introduced in Senate)
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Officials and money
Sponsor: Sen. Kennedy, John [R-LA] · 2 cosponsors
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Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
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Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-119s397.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/119/s>
Record fed-us-cong119-s397 · catalog fed-us-congress-bills-cong119 · updated 2026-11-03 by psicol fed-bills