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To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.

6/2/2025, 2:20 PM

Summary of Bill HR 3557

H.R. 3557, introduced in the 119th session of Congress on May 21, 2025, aims to amend the Small Business Act to provide for the suspension of interest accrual and payments on specific disaster loans for a duration of one year, among other objectives not specified in the provided context.

Current Status of Bill HR 3557

Bill HR 3557 is currently in the status of Bill Introduced since May 21, 2025. Bill HR 3557 was introduced during Congress 119 and was introduced to the House on May 21, 2025.  Bill HR 3557's most recent activity was Referred to the House Committee on Small Business. as of May 21, 2025

Bipartisan Support of Bill HR 3557

Total Number of Sponsors
3
Democrat Sponsors
3
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 3557

Primary Policy Focus

Commerce

Alternate Title(s) of Bill HR 3557

To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.
To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.

Comments

Nico Price profile image

Nico Price

629

8 months ago

I don't think this is a good idea. It could have some negative impacts.

Aitana Rollins profile image

Aitana Rollins

592

8 months ago

This bill is great, finally some relief for small businesses! Who benefits from this anyway?