Small Business Disaster Damage Fairness Act of 2023

This bill amends the Small Business Administration's disaster loan program to increase the collateral requirement from $14,000 to $25,000 and broadens eligibility by replacing "major disaster" with the general term "disaster." It directly affects small businesses seeking SBA disaster loans, making it easier for them to qualify for loans following any declared disaster, not just those classified as "major." The key change simplifies the process by removing the "major" designation, allowing more disaster events to trigger loan eligibility. This adjustment lowers the barrier for small businesses needing financial assistance after weather or other events covered under the program.