119-HR3557
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 action was on 5-21-2025
SenateCurrent status is Referred to the House Committee on Small Business.
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119th CONGRESS
1st Session
H. R. 3557
1. Waiver of interest accrual and payments for certain disaster loans1. Waiver of interest accrual and payments for certain disaster loans
Section 7(d) of the Small Business Act (15 U.S.C. 636(d)) is amended by adding at the end the following paragraph:
(9) Waiver of interest accrual and payments - With respect to a loan made under subsection (b) for disasters declared on or after the date of the enactment of this paragraph, the Administrator shall, for the 12-month period beginning on the date of disbursement of such loan—
(A) - establish a rate of interest on such loan of zero percent; and
(B) - defer payments during such period on the principal of such loan.