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To amend the Small Business Act to waive the accrual of interest and payments for certain disaster loans for a year, and for other purposes.
Last updated: 5/21/2025 · Introduced: 5/21/2025
Author: Joe Neguse (D-CO)
TL;DR (AI)
- This bill waives interest accrual and defers principal payments for certain Small Business Administration disaster loans.
- The interest waiver and payment deferral apply to loans issued following the bill's enactment for declared disasters.
- The Small Business Administration Administrator will set a 0% interest rate and defer payments for 12 months after loan disbursement.
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Other Sections
Includes provisions on preamble, waiver of interest accrual and payments for certain disaster.
2 sections
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