Bill
Bill > HR1375
US HR1375
To amend the Small Business Act with respect to the maximum additional loan amount for certain disaster loans, and for other purposes.
summary
Introduced
02/14/2025
02/14/2025
In Committee
02/14/2025
02/14/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A BILL To amend the Small Business Act with respect to the maximum additional loan amount for certain disaster loans, and for other purposes.
AI Summary
This bill amends the Small Business Act to increase the maximum additional loan amount for certain disaster loans. Specifically, the bill modifies Section 7(b)(1)(A) of the Small Business Act by changing the maximum additional loan percentage from 20% to 30%. This means that small businesses affected by disasters can now potentially access a larger loan amount to help them recover and rebuild. The Small Business Act provides support for small businesses during challenging times, such as after natural disasters or other significant economic disruptions, and this amendment increases the financial assistance available to these businesses by allowing them to borrow a higher percentage of funds to address their needs.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Referred to the House Committee on Small Business. (on 02/14/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/119th-congress/house-bill/1375/all-info |
| BillText | https://www.congress.gov/119/bills/hr1375/BILLS-119hr1375ih.pdf |
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