Bill > HR9611

This bill, the Small Business Disaster Damage Fairness Act of 2024, aims to increase the minimum disaster loan amount for which the Small Business Administration (SBA) may require collateral. Specifically, it amends the Small Business Act to raise the threshold from $14,000 to $50,000 for when the SBA can require collateral for disaster loans. Additionally, the bill requires the Government Accountability Office (GAO) to submit a report on the performance and default rate of these SBA disaster loans, including the impact of the increased collateral threshold, within three years of the bill's enactment.