Small Business Administration has run out of funds following Hurricanes Helene and Milton

The Small Business Administration has run out of money for its disaster assistance loans, delaying much needed relief for people applying for aid following Hurricanes Helene and Milton, the government agency announced Tuesday. In a press release, the SBA said that the funds were "exhausted" following "increased demand from Hurricane Helene." The agency noted that its loan application protal remains open as well as its disaster centers across the country remain staffed.

He noted Homeland Security Secretary Alejandro Mayorkas said in July that FEMA was "tremendously prepared" for weather crises this year. Since Hurricanes Helene and Milton, the SBA has seen about 49,000 applications for relief submitted. Hurricane Helene had 37,000 applicants, while Hurricane Milton saw 12,000.

So far, the SBA has made more than 700 Helene loan offers totaling about $48 million. The agency said that they can make disaster loans up to $500,000 to homeowners to repair or replace disaster-damaged or destroyed real estate. Homeowners and renters may be eligible for up to $100,000 to repair or replace disaster-damaged or destroyed personal property, and businesses may be eligible for loans up to $2 million for both physical damage and economic injury from business disruption.

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

House Republican urges Small Business Administration to enhance rural outreachPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
स्रोत: dcexaminer - 🏆 6. / 94 और पढो »

Republicans blast Small Business Administration over $100M taxpayer-funded 'boondoggle'The Small Business Administration is receiving sharp criticism from the top Republicans on the Small Business committees in Congress over its handling of a $100 million program.
स्रोत: FoxBusiness - 🏆 458. / 53 और पढो »

Small business disaster loan program is out of money until Congress approves new fundsThe Small Business Administration has run out of money for its disaster assistance loans, delaying much needed relief for people applying for aid in the wake of the destruction caused by Hurricanes Helene and Milton.
स्रोत: wjxt4 - 🏆 246. / 63 और पढो »

After hurricanes, the business of rebuilding lives means navigating the insurance claims processNow that the threat of Hurricanes Helene and Milton has receded, millions of homeowners and business-owners across Florida and the Southeastern U.S. are faced with traversing the often long and laborious process of using insurance to rebuild their lives.
स्रोत: wjxt4 - 🏆 246. / 63 और पढो »