S. 397: Small Business Disaster Damage Fairness Act of 2025

S. 397 is a federal bill in the 119th Congress. Currently, if a small business or homeowner applies for a disaster loan from the Small Business Administration (SBA) for more than $14,000, the SBA can require them to put up collateral, such as property or equipment, to secure the loan. This bill changes… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.