Disaster Loan Interest Waiver Bill
Official: 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.
IntroducedMay 21, 2025
Why This Matters
This bill helps small businesses recover from disasters by eliminating interest and payments on certain loans for one year. It aims to provide financial relief during tough times.
If you own a small business affected by a disaster, you could save money on your loan payments for a year.
Affects: Small business owners who take out disaster loans after a declared disaster.
What changes is this bill making?
1. This bill allows certain disaster loans to have zero percent interest for one year. 2. It defers payments on the principal amount of these loans for the same period. 3. The changes apply to loans for disasters declared after the bill is enacted. 4. The goal is to ease financial burdens on small businesses affected by disasters.
Who is affected?
Small business owners who take out disaster loans after a declared disaster.