Workers, community members, and business owners clean up debris in the aftermath of Hurricane Helene in Marshall, North Carolina on Monday, Sept. 30, 2024.The Small Business Administration, which provides billions for disaster recovery, has run out of money to help people and businesses that were hit by Hurricanes Helene and Milton, President Joe Biden said Tuesday.
The SBA said Tuesday that it has received 49,000 applications from households and businesses damaged by Helene or Milton and approved just 700 loans, worth a total of $48 million. SBA disaster loans have helped households avoid declaring bankruptcy under massive rebuilding costs, said Ben Collier, associate professor of Risk Management and Insurance at Temple University’s Fox School of Business.that “there’s no question these devastating back-to-back storms have stressed the SBA funding program.”
Biden and the SBA have been warning that the SBA is about to run out of money to administer its disaster-loan program and urged Congress to provide money quickly.
Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:
Nederland Laatste Nieuws, Nederland Headlines
Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.
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.
Bron: CBSNews - 🏆 87. / 68 Lees verder »
Small Business Administration’s disaster fund tapped out after Helene and MiltonPolitical News and Conservative Analysis About Congress, the President, and the Federal Government
Bron: dcexaminer - 🏆 6. / 94 Lees verder »
Biden says small business disaster loan program will soon run out of moneyPresident Biden says Congress needs to shore up a small business disaster loans fund, and fast. Meanwhile, the response to Hurricane Helene has become a presidential election issue.
Bron: NPR - 🏆 96. / 63 Lees verder »
Small business disaster loan program is out of money until Congress approves new fundsThe SBA is pausing new loan offers until it gets more funding, which means loans that have not already been offered will be delayed by at least a month.
Bron: adndotcom - 🏆 293. / 63 Lees verder »
Small business disaster loan program is out of money until new funds are approvedThe SBA’s disaster loan program has run out of money, it announced on Tuesday. The agency expects to receive new funding from Congress, and will continue to accept applications in the meantime.
Bron: NPR - 🏆 96. / 63 Lees verder »
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. The SBA offers Economic Injury Disaster Loans to businesses and people affected by disasters.
Bron: AP - 🏆 728. / 51 Lees verder »