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Disaster Aid Simplified: No Penalty for Declining SBA Loans

This act aims to simplify disaster relief by ensuring that declining a Small Business Administration (SBA) loan does not negatively impact eligibility for other aid from the Department of Housing and Urban Development (HUD). This gives citizens more flexibility in choosing the most suitable form of support after a disaster.
Key points
Government agencies cannot penalize applicants for declining an SBA loan when seeking other disaster assistance.
The amount of HUD assistance will not be reduced if SBA support was previously declined.
These rules apply to applications made before, on, or after the act's enactment, ensuring broad coverage.
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Additional Information
Disaster Assistance Simplification Act
Print number: S 1363
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2021-04-26