S. 300 aims to enhance the accountability of the Small Business Administration's (SBA) disaster loan program. It introduces stricter reporting requirements, such as monthly reports on loan funds and their usage, and places limits on loan forgiveness unless explicitly...
Simple Explanation
S. 300 is a proposed rule to make sure that the people who give out loans during disasters are very careful and tell how they're doing it. It wants them to check their work more often and be more open about where the money goes, so everyone knows it's being used correctly.