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Small Business Disaster Aid: Easier Loans and Rural Outreach

This act makes it easier for small businesses to get disaster loans by increasing the amount for which collateral is not required. It also mandates that the government agency better reach out to rural communities, who often struggle to access support.
Key points
Increases the disaster loan amount for small businesses that does not require collateral from $14,000 to $50,000.
Requires the Small Business Administration (SBA) to tailor its outreach and marketing for disaster loans to better serve rural communities, addressing their unique challenges in accessing aid.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1021
Sponsor: Rep. Neguse, Joe [D-CO-2]
Process start date: 2025-02-05
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Small Business Disaster Damage Fairness Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1021.

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 2025-02-05.

What are the main provisions?

Key points include:

  • Increases the disaster loan amount for small businesses that does not require collateral from $14,000 to $50,000.
  • Requires the Small Business Administration (SBA) to tailor its outreach and marketing for disaster loans to better serve rural communities, addressing their unique challenges in accessing aid.
What is the specific legal status?

The current status is Introduced.

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. Neguse, Joe [D-CO-2].

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 2025-12-22.

CATEGORIES

Economy