Small Business Disaster Damage Fairness Act of 2023

1/11/2024, 5:45 PM

Small Business Disaster Damage Fairness Act of 2023

This bill increases from $14,000 to $25,000 the threshold loan amount over which the Small Business Administration may require collateral for a disaster loan.

The Government Accountability Office must report on the performance, including the default rate, of such loans.

Congress
118
Number
S - 943
Introduced on
2023-03-22
# Amendments
0
Sponsors
+5

Variations and Revisions

7/25/2023
Text
PDF
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Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

Small Business Disaster Damage Fairness Act of 2023

This bill increases from $14,000 to $25,000 the threshold loan amount over which the Small Business Administration may require collateral for a disaster loan.

The Government Accountability Office must report on the performance, including the default rate, of such loans.

Alternative Names
Official Title as IntroducedA bill to increase the minimum disaster loan amount for which the Small Business Administration may require collateral, and for other purposes.
Policy Areas
Commerce
Potential Impact
Credit and credit markets•
Government studies and investigations•
Interest, dividends, interest rates•
Natural disasters•
Performance measurement•
Small business

Comments

Recent Activity

Latest Summary11/27/2023

Small Business Disaster Damage Fairness Act of 2023

This bill increases from $14,000 to $25,000 the threshold loan amount over which the Small Business Administration may require collateral for a disaster loan.

The Government...

Latest Action7/25/2023
Placed on Senate Legislative Calendar under General Orders. Calendar No. 165.