This bill appropriates $810 million in supplemental federal funding to address a shortfall in the Small Business Administration's Disaster Loans Program for fiscal year 2025. The funding will support direct loans to small businesses recovering from disasters, with an additional $250 million allocated for administrative expenses and $10 million dedicated to audits and oversight by the SBA's Inspector General. The legislation also requires the SBA to conduct a comprehensive review of what caused the funding shortfall and submit a detailed report within six months, along with a plan to improve budget forecasting and data quality within 30 days. Small business owners affected by disasters, as well as Congress and federal agencies overseeing disaster relief programs, are the primary stakeholders affected by this emergency funding designation.
Take Action
Your position
Add a comment
to comment on this bill.
Annotate the text
Highlight any passage on the Summary or Full Text tab to attach a note. Annotations appear on the Annotations tab.