Bill · H.R. 1021· House(119-HR-1021)
Small Business Disaster Damage Fairness Act of 2025
- Introduced
- 2/5/2025
- Last activity
- 2/5/2025 — Referred to the House Committee on Small Business.
- Sponsored by
- Joe Neguse
- Cosponsors
- - 0 - 1
- Introduced
- In Committee
What this bill would do
This bill, known as the "Small Business Disaster Damage Fairness Act of 2025," aims to amend the Small Business Act regarding collateral requirements for disaster loans. It increases the threshold for when the Small Business Administration can require collateral from $14,000 to $50,000. Additionally, the bill changes the term "major disaster" to "disaster." It also mandates a GAO report on loan performance and default rates related to these changes. Finally, it requires the Small Business Administration to distinguish between rural and urban communities in its marketing and outreach efforts for disaster loans.
Yes· 3 of 8
Would business owners be better off under this?+7
Business owners benefit from significantly higher collateral thresholds and targeted outreach efforts.
Does this make it easier to run a small business?+7
The bill eases access to disaster loans by raising the collateral threshold and mandating better outreach to rural areas.
Would people in rural areas be better off under this?+6
The bill specifically requires the SBA to address unique challenges and improve marketing efforts for rural communities.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Reduced Collateral Requirements: By increasing the minimum amount for which the Small business Administration may require collateral from $14,000 to $50,000, this provision helps small businesses by changing how collateral is handled for disaster loans (Section 2).
-
Improved Outreach for Rural Communities: The bill requires the Administrator to ensure that the Associate Administrator distinguishes between rural and urban communities in marketing and incorporates actions to mitigate challenges faced by rural communities when accessing loans (Section 4).
Potential Negative Impacts for People
- No negative impacts are explicitly stated in the provided text.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Business Owners+7Good For Rural Residents+6Good For Low Income Households+2
- Economy And Finance
- Improves Small Business Support+7Increases Job Creation+3
- Environment Energy And Infrastructure
- Improves Disaster Relief And F E M A+5
- Governance And Ideology
- Improves Government Transparency+3
- Social Issues And Justice
- Improves Poverty Reduction+2
- 2/5/2025
- Referred to the House Committee on Small Business.
- 1 Cosponsor added.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Jay ObernolteRepublican · California