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HR 1021119th CongressIntroduced
Small Business Disaster Damage Fairness Act of 2025
Introduced: Oct 28, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
The Small Business Disaster Damage Fairness Act (H.R.1021) raises the minimum disaster loan amount for which the SBA may require collateral from $14,000 to $50,000, changes the definition of “major disaster” to “disaster,” and requires a GAO report on default rates and the impact of the new collateral threshold. It also mandates rural‑urban outreach distinctions in SBA marketing.
Key Points
- 1Collateral threshold increased to $50,000 for disaster loans.
- 2Redefines “major disaster” to “disaster.”
- 3GAO to report on default rates and collateral impact.
- 4SBA to distinguish rural and urban communities in outreach.
Impact Areas
Small businesses seeking disaster loansSBA and its staffRural and urban communitiesGAO and congressional oversight
Generated by openai/gpt-oss-20b:free on Nov 19, 2025