119th Congress Commerce
S. 397: Small Business Disaster Damage Fairness Act of 2025
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
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 Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Cory Booker D-NJOriginal
- Mazie Hirono D-HIOriginal
Who scored on this bill
- 1John Kennedy SponsorDrew cross-party cosponsors, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
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History
- Introduced in the Senate by John Kennedy.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Small Business and Entrepreneurship.