Small Business Administration Disaster Loan Program Runs Out of Funds After Hurricanes
The Small Business Administration (SBA) has exhausted its disaster loan funds following the devastating impact of Hurricanes Helene and Milton, leaving many small businesses without immediate financial assistance. In light of this situation, local officials and SBA representatives are calling for Congress to approve new funding quickly, especially as the November election approaches. While the SBA has opened disaster recovery centers to support affected individuals and businesses, the halt in new disaster loans has raised concerns regarding the resilience of local economies. Lawmakers, including Senate Republicans, are questioning the transparency and management of the SBA amid the chaos, and small business owners are encouraged to seek alternative aid options as they await new funding approvals.
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