S. 300Heading to a voteJobs & the economy
Bill seeks tighter oversight of SBA's disaster loan program
Data as of July 16, 2026
S 300 would force the SBA to report more often to Congress and limit its ability to forgive disaster loans.50-second read · 5 questions answered below
Decoded
What does this do?
S 300, the Disaster Loan Accountability and Reform Act, requires the SBA to send Congress detailed monthly reports on disaster loan spending, including warnings about low funding, and to submit budget requests comparing costs to 10-year averages. It restricts loan forgiveness and debt write-offs without Congressional approval, limits large collateral-free loans during funding shortages, blocks new cost-increasing rules, and orders GAO and Inspector General reviews of recent rule changes and a 2024 funding shortfall.
Who does it affect?
SBA administrators and staff face new reporting and rule-making restrictions; members of Congress receive more detailed financial information; small businesses and individuals seeking disaster loans could be indirectly affected.
Why does it matter?
Stricter rules on collateral and loan forgiveness could make some disaster loans harder to get or repay.
What does it cost, and who pays?
- Late reports cut travel funds
- Unpaid debts sent to Treasury
- No forgiveness without Congress OK
Where does it stand?
- Introduced
- Senate committee
- Senate vote — You are here
- House
- President's desk
Right now: it's headed for a Senate floor vote. If the House changes it, it goes back to the Senate before reaching the President.
AI-drafted summary. Verify it against the official text before you act on it.
Three steps: where you stand, your script, the call.
Make the callSee how a call works
Official title
DLARA
- Introduced:
- January 29, 2025
- Latest action:
- March 4, 2025
Placed on Senate Legislative Calendar under General Orders. Calendar No. 22.
Read the official bill on Congress.govMake the call
Three steps: where you stand, your script, the call.