The SBA stated that it is "pausing new loan offers for its low-interest disaster loans" due to lack of Congressional funding, impacting disaster survivors.
Biden emphasized that the SBA will process applications, assuring that loans will be disbursed as soon as Congress provides necessary funding.
Despite the pause, Biden noted that Speaker Johnson assured that disaster programs will be replenished once Congress reconvenes, urging applicants to apply regardless.
SBA encourages disaster survivors to start their application immediately, regardless of funding limitations, to prepare for offers when funds become available.
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