Small Business Administration Will Soon Exhaust Disaster Loan Funds

Small Business Administration Will Soon Exhaust Disaster Loan Funds

The New York Times-Business·2024-10-09 17:02

Small Business Administration officials warned on Tuesday that the agency would “very soon” exhaust its funding for new disaster loans for homeowners and businesses in the wake of Hurricane Helene.

The agency has less than $100 million for new disaster loans, according to the officials, and will continue to process incoming loan applications after the money runs out, but Congress will have to approve additional funding for it to make new loan offers and cut checks.

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