arrow_back Back to App

Small Business Disaster Loans for Prolonged Power Outages

This bill expands the small business loan program to include damages caused by prolonged power outages. This means small business owners who suffer losses due to power failures can apply for financial assistance. These loans can be used to purchase emergency power systems and cover the cost of lost food and beverages.
Key points
Prolonged power outages are now recognized as a disaster, qualifying for small business loans.
Loans can be used to purchase generators, solar panels, batteries, and other energy resilience systems.
Loan funds can also cover the cost of lost food and beverages spoiled due to power loss.
A power outage must affect at least 25 homes or businesses, or a combination, in an area, with losses of at least 40% of property value, or the outage must last at least 48 hours.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_7071
Sponsor: Rep. Stevens, Haley M. [D-MI-11]
Process start date: 2024-01-22
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

To amend section 7(b) of the Small Business Act to make disaster loans available for damages caused by prolonged power outages, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7071.

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 2024-01-22.

What are the main provisions?

Key points include:

  • Prolonged power outages are now recognized as a disaster, qualifying for small business loans.
  • Loans can be used to purchase generators, solar panels, batteries, and other energy resilience systems.
  • Loan funds can also cover the cost of lost food and beverages spoiled due to power loss.
  • A power outage must affect at least 25 homes or businesses, or a combination, in an area, with losses of at least 40% of property value, or the outage must last at least 48 hours.
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. Stevens, Haley M. [D-MI-11].

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 2025-12-25.

CATEGORIES

Economy Benefits