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Small Business Support: Disaster Preparedness and Asset Protection

This act aims to strengthen the loan program for small businesses, helping them prepare for natural disasters. It increases the availability of funds to protect assets from damage and sets a loan cap of $500,000. This allows small business owners to better protect their businesses and recover faster after natural disasters.
Key points
Increased pre-disaster mitigation loan limit for small businesses to $500,000.
Introduction of outreach and technical assistance programs to help businesses understand mitigation benefits.
Increased amount small businesses can receive for post-disaster repairs if they invested in mitigation.
Allocation of $25 million annually for the program from 2022-2026.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 117_S_1621
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2021-05-13
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

PREPARE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1621.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-05-13.

What are the main provisions?

Key points include:

  • Increased pre-disaster mitigation loan limit for small businesses to $500,000.
  • Introduction of outreach and technical assistance programs to help businesses understand mitigation benefits.
  • Increased amount small businesses can receive for post-disaster repairs if they invested in mitigation.
  • Allocation of $25 million annually for the program from 2022-2026.
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 Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

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