Bills · HR 3557
IN COMMITTEE· 119TH CONGRESS
House BillHR 3557Commerce
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.
INTRO MAY 21· LAST ACTION MAY 21
READING
1MIN
COSPONSORS
2
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed House
Passed Senate
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it addresses a critical financial challenge many people and businesses face immediately after a disaster. When homes and livelihoods are damaged or destroyed, people often struggle to cover basic living expenses, temporary housing, and urgent repairs, let alone make loan payments.
If this bill becomes law, it would provide a much-needed buffer, giving disaster victims a full year to stabilize their situation before the burden of loan interest and payments begins. This can significantly reduce stress and improve the chances of a successful recovery by allowing funds to be directed to essential needs. Without this bill, individuals and businesses receiving new disaster loans would begin accruing interest and be responsible for payments much sooner, adding to the financial strain during an already difficult time.
KEY PROVISIONS
3AI-extractedPROVISION 01
The bill establishes a zero percent interest rate on eligible SBA disaster loans for the first 12 months after the loan is disbursed.
This provision ensures that borrowers do not incur additional debt through interest charges during their initial recovery period.
PROVISION 02
It defers payments on the principal of eligible SBA disaster loans for the first 12 months after the loan is disbursed.
This allows borrowers to conserve cash and direct their financial resources towards immediate rebuilding and recovery expenses rather than loan repayment.
PROVISION 03
These waivers and deferrals apply only to loans for disasters declared on or after the date the bill becomes law.
This clarifies the effective date and scope of the benefits, limiting them to future disaster events.
SPONSORSHIP
1 + 2
D· Colorado
YRS IN OFFICE
7
BILLS LED
92
COSPONSOR BREAKDOWNBIPARTISAN · 0%
DEM 0 REP 2 IND 0
ACTION TIMELINE
2 EVENTSMAY 21
Introduced in House
MAY 21
Referred to the House Committee on Small Business.
BILL INFO
TypeHouse Bill
NumberHR 3557
Congress119th
StatusIn Committee
IntroducedMay 21, 2025
Last actionMay 21, 2025
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IN COMMITTEE· 119TH CONGRESS · SMALL BUSINESS COMMITTEE · INTRODUCED MAY 21, 2025
House BillHR 3557Commerce
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.
INTRODUCED MAY 21, 2025· LAST ACTION MAY 21, 2025
PASSAGE CHANCES
—%
READING
1 min
COSPONSORS
2
COMPLEXITY
Moderate
