The SBA will halt its dispersion of loans until new funding is approved by Congress, which is out of session until Nov. 12. Officials have said that Congress will not be called back early despite the assistance of some to better deal with the back-to-back hurricanes.
The SBA assists renters, homeowners, and businesses recover after natural disasters. Those with existing loans will continue to receive payments, but no new loans can be issued.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Small Business Administration has run out of funds following Hurricanes Helene and MiltonThe Small Business Administration has run out of money for its disaster assistance loans, delaying critical relief for people applying for aid in the wake of Hurricanes Helene and Milton.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Small business owners facing 'double whammy' amid Hurricane Helene cleanupRooted in fact-based, transparent reporting, Newsy is an award-winning opinion-free network owned by the E.W. Scripps Company that is relentlessly focused on “the why” of every story and seeks to enable a more intimate and immersive understanding of the issues that matter.
Source: 10News - 🏆 732. / 50 Read more »
Small Business Administration runs out of funding for disaster relief loans after hurricanes Helene, MiltonThe Small Business Administration offers Economic Injury Disaster Loans to businesses and people affected by disasters.
Source: CBSNews - 🏆 87. / 68 Read more »
Small Business Administration disaster loan program exhausts funds after Hurricane HeleneFour days after Hurricane Milton roared onto the west coast of Florida, analysts estimate well-over $100 billion of damage. The cost of cleanup, rebuilding and insurance in a coastal hurricane zone have become prohibitive to some residents who are deciding they can no longer afford to live in paradise.
Source: NBCNewsHealth - 🏆 707. / 51 Read more »