S. 397: Small Business Disaster Damage Fairness Act of 2025
A Senate bill (S.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | Senate bill (S.) |
| Originating chamber | Senate |
| Introduced | 2025-02-04 |
| Sponsor | Sen. Kennedy, John [R-LA] |
| Policy area | Commerce |
| Cosponsors | 2 |
| Latest action | 2025-02-04 — Read twice and referred to the Committee on Small Business and Entrepreneurship. |
| Last updated | 2026-02-25 |
Summary
Official summary (Introduced in Senate, 2025-02-04):
Small Business Disaster Damage Fairness Act of 2025
This bill increases from $14,000 to $50,000 the threshold loan amount over which the Small Business Administration (SBA) may require collateral for a disaster loan.
The Government Accountability Office must report on the performance, including the default rate, of such loans.
Additionally, the SBA must (1) distinguish between rural and urban communities in the outreach and marketing for disaster loans, and (2) incorporate actions to mitigate challenges encountered by rural communities in accessing such loans.
Cosponsors (2)
| Name | Party / state |
|---|---|
| Cory A. Booker | D NJ (original cosponsor) 2025-02-04 |
| Mazie K. Hirono | D HI (original cosponsor) 2025-02-04 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for S. 397 are published by Congress on congress.gov.
Frequently asked questions
What is S. 397?
S. 397 is a Senate bill (S.) introduced in the 119th U.S. Congress, originating in the Senate. Official title: Small Business Disaster Damage Fairness Act of 2025.
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for S. 397 are available on congress.gov.
Bill data: congress.gov API (official congressional records).