A bill to amend the Small Business Act and the Consolidated Farm and Rural Development Act to reduce interest rates on certain disaster and emergency loan programs.

Amends the Small Business Act to reduce the interest rate on specified disaster loans offered by the Small Business Administration from six and five-eighths percent to three percent. Sets forth standards for qualification for such loans.

Amends the Consolidated Farm and Rural Development Act to reduce the interest rate on Farmers Home Administration disaster and emergency loans from five to three percent.