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Easier Disaster Loans: Less Collateral for Small Businesses.

This bill aims to make it easier for small businesses to obtain disaster loans after events like hurricanes or floods. The changes involve removing certain collateral requirements, which can speed up and simplify the process of getting financial aid. This means entrepreneurs affected by natural disasters will have easier access to funds for rebuilding and resuming operations.
Key points
Reduced collateral requirements for disaster loans to small businesses.
Easier access to financial assistance for entrepreneurs affected by natural disasters.
Changes apply retroactively, as if enacted with the RISE After Disaster Act of 2015.
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Status:
Expired
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Additional Information
Print number: 117_HR_8482
Sponsor: Rep. Velazquez, Nydia M. [D-NY-7]
Process start date: 2022-07-21
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Collateral Requirements for Disaster Loans Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8482.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-07-21.

What are the main provisions?

Key points include:

  • Reduced collateral requirements for disaster loans to small businesses.
  • Easier access to financial assistance for entrepreneurs affected by natural disasters.
  • Changes apply retroactively, as if enacted with the RISE After Disaster Act of 2015.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Velazquez, Nydia M. [D-NY-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

What is the impact of this bill?

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge.

CATEGORIES

Economy Benefits