WASHINGTON – The Small Business Administration said Tuesday it has run out of funds for its disaster loan program. Hurricane HeleneBy being Congress in respiration.
“Until Congress provides additional funding, SBA is suspending new loan offers for direct, low-interest, long-term loans to disaster survivors.” SBA said in the statement.
“However, SBA is encouraging individuals and small businesses to continue applying for loans, with assurances from congressional leaders that additional funding will be available after Congress returns in November.”
Devastating Hurricane Helene has killed more than 200 people in six US states, nearly half of the deaths in North Carolina alone.
President Joe Biden said he believes Congress, whose members are currently on recess, should return to session to address funding needs for disaster relief.
Members of the House and Senate are not scheduled to return to Washington after the Nov. 5 election.