The Small Business Disaster Damage Fairness Act of 2025 seeks to amend the Small Business Act by raising the minimum disaster loan amount from $14,000 to $50,000, for which the Small Business Administration can require collateral. It requires the Government Accountability...
Simple Explanation
The Small Business Disaster Damage Fairness Act of 2025 wants to change how small businesses borrow money when disasters happen by making it easier to borrow smaller amounts without needing to give something valuable as backup. It also wants to make sure that businesses far away from big cities know about these loans too, so everyone has a fair chance to get help.