WASHINGTON, DC – U.S. Senator Mazie K. Hirono (D-HI) joined Senator Cory Booker (D-NJ) and John Kennedy (R-LA) in introducing the Small Business Disaster Damage Fairness Act of 2025, legislation that would allow borrowers to get a Small Business Administration (SBA) disaster assistance loan for up to $50,000, rather than the current $14,000, without pledging collateral.
“SBA disaster assistance loans are crucial in helping small businesses and their surrounding community rebuild following a natural disaster—something I saw firsthand after the devastating wildfires on Maui in 2023,” said Senator Hirono. “Maui and other communities across our country that have been impacted by disasters need financial support to rebuild and this legislation will help to ensure that our communities and small businesses have the resources they need to begin the recovery process and see it through.”
The SBA’s Disaster Loan Program is designed to help homeowners, renters, businesses and nonprofits repair, rebuild and recover from disaster-related losses. In 2024, there were 27 weather-related disasters that caused at least $1 billion in damage.
The bill also codifies the Government Accountability Office (GAO)’s recommendation to distinguish between rural and urban communities for outreach and instructs the GAO to further report the Disaster Loan Program’s default rate.
The full text of the legislation is available here.
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