Bill · S. 397· Senate(119-S-397)
Small Business Disaster Damage Fairness Act of 2025
- Introduced
- 2/4/2025
- Last activity
- 2/4/2025 — Read twice and referred to the Committee on Small Business and Entrepreneurship.
- Sponsored by
- John Kennedy
- Cosponsors
- - 0 - 2
- 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. It seeks to increase the minimum amount for which the Small Business Administration may require collateral for disaster loans from $14,000 to $50,000. The bill also changes the term "major disaster" to "disaster." Additionally, it requires the Comptroller General to submit a report on loan performance and default rates. Finally, it mandates that the Small Business Administration distinguish between rural and urban communities in its outreach and marketing efforts for disaster loans.
Yes· 3 of 6
Would business owners be better off under this?+5
Small business owners benefit from higher collateral thresholds for disaster loans and improved outreach for rural areas.
Does this make it easier to run a small business?+5
The bill makes it easier for small businesses to access disaster loans by increasing the collateral threshold from $14,000 to $50,000 and mandating targeted outreach for rural areas.
Would people in rural areas be better off under this?+4
The bill specifically directs the SBA to distinguish between rural and urban communities and incorporate actions to improve loan access for rural communities.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Collateral Threshold: By striking "$14,000" and inserting "$50,000", the bill increases the minimum loan amount for which the Small Business Administration may require collateral (Section 2).
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Targeted Outreach for Rural Areas: The Administrator must ensure the Associate Administrator distinguishes between rural and urban communities in outreach and marketing plans, and incorporates actions to help rural communities access loans (Section 4).
Potential Negative Impacts for People
- No specific negative impacts are explicitly mentioned 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+5Good For Rural Residents+4
- Economy And Finance
- Improves Small Business Support+5Improves Fiscal Responsibility+1
- Environment Energy And Infrastructure
- Improves Rural Development+4
- Governance And Ideology
- Improves Government Transparency+2
- 2/4/2025
- Read twice and referred to the Committee on Small Business and Entrepreneurship.
- 2 Cosponsors added.
- Introduced in Senate
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.
Cory BookerDemocrat · New Jersey
Mazie HironoDemocrat · Hawaii