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US HB3557
Bill
Status
5/21/2025
Primary Sponsor
Joseph Neguse
Click for details
AI Summary
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Amends Section 7(d) of the Small Business Act to provide relief for Small Business Administration disaster loans
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Sets the interest rate at zero percent for the first 12 months after loan disbursement for qualifying disaster loans
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Defers all principal payments during the same 12-month period following disbursement
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Applies to disasters declared on or after the date of the bill's enactment
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Introduced May 21, 2025 by Rep. Neguse (D-CO) and Rep. Ciscomani (R-AZ) and referred to the Committee on Small Business
Legislative Description
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.
Commerce
Last Action
Referred to the House Committee on Small Business.
5/21/2025