"The delay is unacceptable," said Kit Cramer, president of the Asheville Chamber of Commerce that represents more than 1,500 businesses. She worries it will slow down the pace of recovery for artists, breweries, and other local shop owners who sustained devastating property damage. Many of them count on the fall tourism season to earn enough money to make it through the less-busy winter months.
Cramer added that local business owners are also discovering that their insurance policies don't have very comprehensive coverage. The SBA offers business and nonprofit owners low-interest loans up to $2 million for property damage that isn't covered by insurance and economic losses due to the disruption.
The SBA said it has received some 37,000 applications from survivors of Hurricane Helene so far. More than 700 loans totaling $48 million have been approved. For Hurricane Milton, the SBA has already received more than 12,000 applications.
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