Graves introduces bill raising SBA disaster loan limits 

Just in time for the Atlantic hurricane season, U.S. Rep. Garret Graves has joined Rep. María Elvira Salazar, R-Florida, to introduce a new bill that would raise the limits for Small Business Administration disaster loans.  

The bipartisan Rebuilding Communities After Disasters Act would increase the maximum loan amount for SBA physical damage disaster loans from $200,000 to $400,000 for home repair, and from $40,000 to $75,000 to replace household and personal belongings. 

“This assistance program no longer meets the needs of disaster victims because home prices have significantly increased while the loan amounts have not similarly increased,” Graves says in a prepared statement. Read more about the legislation.