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Increased Disaster Loans for Small Businesses

This act raises the maximum loan amount for small businesses affected by disasters to $2 million. It also simplifies the process for businesses that have already received loans to get additional funds, without needing new paperwork. Furthermore, it increases funding for emergency advances, ensuring every business receives at least $10,000.
Key points
Maximum disaster loan amount for small businesses increased to $2 million.
Existing loan recipients can request additional funds up to $2 million without new documentation.
Any small business that received an emergency advance less than $10,000 will receive an additional payment to reach that amount.
Funding for emergency advances for small businesses increased by $15 billion.
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Status:
Expired
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Additional Information
EIDL for Small Businesses Act
Print number: S 513
Sponsor: Sen. Rosen, Jacky [D-NV]
Process start date: 2021-03-01
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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Summary & Status

Key Questions about Increased Disaster Loans for Small Businesses

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is S 513.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-03-01.

What are the main provisions?

Key points include:

  • Maximum disaster loan amount for small businesses increased to $2 million.
  • Existing loan recipients can request additional funds up to $2 million without new documentation.
  • Any small business that received an emergency advance less than $10,000 will receive an additional payment to reach that amount.
  • Funding for emergency advances for small businesses increased by $15 billion.

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. Rosen, Jacky [D-NV].

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.

Analysis and Potential Impact of S 513

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. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

CATEGORIES

Economy