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Increased Disaster Loans for Small Businesses

This new bill increases the maximum additional loan amount available to small businesses after disasters. This change aims to better support entrepreneurs in rebuilding after difficult events, providing them with access to more financial resources. As a result, businesses affected by natural disasters or other misfortunes will be able to recover more quickly.
Key points
The maximum additional loan amount for small businesses after disasters increases from 20% to 30%.
Businesses affected by disasters will have access to greater funds for rebuilding and resuming operations.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1375
Sponsor: Rep. Castor, Kathy [D-FL-14]
Process start date: 2025-02-14
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To amend the Small Business Act with respect to the maximum additional loan amount for certain disaster loans, and for other purposes.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1375.

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 2025-02-14.

What are the main provisions?

Key points include:

  • The maximum additional loan amount for small businesses after disasters increases from 20% to 30%.
  • Businesses affected by disasters will have access to greater funds for rebuilding and resuming operations.
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. Castor, Kathy [D-FL-14].

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