SBA's low-interest disaster loans are critical for small businesses and homeowners affected by disasters. However, with the recent funding exhaustion, new loan offers are paused.
SBA Administrator Isabel Casillas Guzman underscores the importance of continuing loan applications from those in the affected areas, indicating that future funding will restore the support.
Craig Fugate warned that without SBA assistance, many businesses that suffered damages will lack critical help in the absence of insurance coverage, which hinders immediate recovery.
Ben Collier highlighted that SBA disaster loans play a vital role in preventing bankruptcy for households facing overwhelming rebuilding expenses after disasters like Hurricanes Helene and Milton.
#disaster-recovery #sba-funding #hurricanes-helene-and-milton #small-business-assistance #federal-aid
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