The Disaster Loan Accountability and Reform Act (S. 300) aims to enhance the oversight of the Small Business Administration's (SBA) disaster loan program. It includes provisions for monthly reports on disaster loans, requires the SBA to notify Congress when funding is low,...
Simple Explanation
The Disaster Loan Accountability and Reform Act (S. 300) is about making sure people know what's happening with loans that help small businesses after disasters, and it tells the Small Business Administration to give reports and updates regularly. The bill also says they have to check with Congress before giving more loan forgiveness, and they shouldn't change rules in a way that costs more money without a good reason.