S. 300 · On the floor · Commerce

DLARA

What it does

Requires the SBA to report monthly on the disaster loan program, including estimated dates when available funding will reach 10% of the latest appropriation and when it will be depleted.
Requires the President's budget to separately state the appropriations request for SBA disaster loans and pandemic Economic Injury Disaster Loans and explain any gap from the 10-year average cost.
Requires the SBA, for four years, to notify Congress when the unobligated disaster loan balance falls below 10% of the 10-year average annual cost, at which point it may limit loans to collateralized amounts.
Requires a GAO report on loan disbursement and the effect of SBA rules on home lending limits, and an SBA Inspector General review of recent disaster loan funding shortfalls.

Official summary

Disaster Loan Accountability and Reform Act or the DLARA This bill modifies the Small Business Administration (SBA) disaster loan program and requires external review of, and reporting on, the program. First, the bill requires the SBA to report monthly on the operation of the disaster loan program. (Currently, the SBA must report only during the applicable period for a major disaster.) The report must estimate the date on which available funding for such loans will reach 10% of the most recent appropriation and the date on which the funds will be depleted. Second, the President's annual budget must include separate statements regarding the appropriations request for SBA disaster loans and COVID-19 Economic Injury Disaster Loans (EIDL), including explanations for any difference between the amount requested and the 10-year average cost for such loans. Third, for a period of four years, the SBA must notify Congress when the unobligated balance of amounts available for disaster loans is less than 10% of the 10-year average annual cost provided in the most recent Presidential budget. At such point, the SBA may limit disaster loans to collateralized amounts. Finally, the bill requires…

Latest action

Mar 4, 2025: Placed on Senate Legislative Calendar under General Orders. Calendar No. 22.

Committee: Senate Small Business and Entrepreneurship