This bill proposes an amendment to the Small Business Act, specifically targeting the provisions related to disaster loans. Its primary purpose is to increase the maximum additional loan amount that can be provided to eligible recipients following a disaster. The current limit of 20 percent will be raised to 30 percent . By adjusting this percentage, the legislation seeks to enhance the financial support available to small businesses and other entities recovering from significant events. This change is intended to offer greater flexibility and resources to aid in the rebuilding and recovery process after a disaster.
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Timeline
Introduced in House
Referred to the House Committee on Small Business.
Introduced in House
Referred to the House Committee on Small Business.
Commerce
To amend the Small Business Act with respect to the maximum additional loan amount for certain disaster loans, and for other purposes.
USA119th CongressHR-1375| House
| Updated: 2/14/2025
This bill proposes an amendment to the Small Business Act, specifically targeting the provisions related to disaster loans. Its primary purpose is to increase the maximum additional loan amount that can be provided to eligible recipients following a disaster. The current limit of 20 percent will be raised to 30 percent . By adjusting this percentage, the legislation seeks to enhance the financial support available to small businesses and other entities recovering from significant events. This change is intended to offer greater flexibility and resources to aid in the rebuilding and recovery process after a disaster.