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S 397119th CongressIntroduced
Small Business Disaster Damage Fairness Act of 2025
Introduced: Oct 28, 2025
Standard Summary
Comprehensive overview in 1-2 paragraphs
S. 397 raises the minimum SBA disaster loan amount for collateral to $50,000, requires a GAO report on default rates, and mandates targeted outreach to rural communities for SBA disaster loans.
Key Points
- 1Amends §7(d)(6) of the Small Business Act to set collateral minimum at $50,000.
- 2Mandates a GAO report on loan performance and default rates within 3 years.
- 3Requires the SBA to distinguish rural vs. urban communities in outreach and marketing plans.
- 4Calls for actions to mitigate rural access challenges.
- 5Applies to SBA’s disaster loan program.
Impact Areas
Small businesses receiving SBA disaster loansSBA and its regional officesRural communities and lendersGAO and congressional oversight
Generated by openai/gpt-oss-20b:free on Nov 19, 2025