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.
Sponsored By: Representative Neguse, Joe [D-CO-2]
Introduced
Summary
12-month zero-interest and principal-payment deferral for SBA disaster loans. This bill would require the Small Business Administration to set a 0% interest rate and defer principal payments for the first 12 months after disbursement on disaster loans made under Section 7(b). The change applies only to loans tied to disasters declared after enactment and aims to give affected small businesses a year of breathing room on loan costs and repayments.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Year-long relief for SBA disaster loans
If enacted, some SBA disaster loans would charge 0% interest for the first 12 months. You would not have to make principal payments during that time. The 12 months would start on your loan disbursement date. This would only apply to loans under section 7(b) for disasters declared on or after enactment. The bill does not say how payments change after the first year.
Sponsors & CoSponsors
Sponsor
Neguse, Joe [D-CO-2]
CO • D
Cosponsors
Ciscomani
AZ • R
Sponsored 5/21/2025
Rep. Nunn, Zachary [R-IA-3]
IA • R
Sponsored 10/3/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov