To amend the Small Business Act to reduce the interest rates on disaster loans provided by the Small Business Administration for losses resulting from flooding in the Midwest.

Amends the Small Business Act to reduce to one percent per year (currently, varying amounts of up to eight percent) the interest rate on the Federal share of disaster loans provided by the Small Business Administration for losses resulting from flooding in Midwest communities during the period beginning on June 1, 1993, and ending on May 31, 1994.