arrow_back Back to App

Emergency Funding for Small Business Disaster Loans and Program Oversight.

This law immediately injects $810 million into the disaster loan program for small businesses, ensuring financial aid remains available following natural disasters. This funding is crucial for entrepreneurs needing to rebuild and recover quickly. The act also mandates strict oversight and audits to investigate past funding shortfalls and improve future budget accuracy.
Key points
Provides $810 million in emergency supplemental funding for direct disaster loans to small businesses.
Allocates $250 million for administrative expenses to speed up the processing of disaster loan applications.
Requires the Inspector General to review the causes of previous funding shortages and mandates the SBA to improve its financial forecasting and data quality.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_S_5341
Sponsor: Sen. Tillis, Thomas [R-NC]
Process start date: 2024-11-18
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-flash-latest
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

A bill making supplemental appropriations for small business disaster relief for the fiscal year ending September 30, 2025.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_5341.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-11-18.

What are the main provisions?

Key points include:

  • Provides $810 million in emergency supplemental funding for direct disaster loans to small businesses.
  • Allocates $250 million for administrative expenses to speed up the processing of disaster loan applications.
  • Requires the Inspector General to review the causes of previous funding shortages and mandates the SBA to improve its financial forecasting and data quality.
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. Tillis, Thomas [R-NC].

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 2025-12-26.

CATEGORIES

Economy Public Investments