Small Business Administration Will Soon Exhaust Disaster Loan Funds

Published On Oct 8, 2024, 7:34 PM

The Small Business Administration (SBA) has warned that it will soon run out of funding for disaster loans, with less than $100 million remaining. This comes as the agency prepares for Hurricane Milton, which threatens to make landfall in Florida, while still dealing with the aftermath of Hurricane Helene in various Southeastern states. The SBA official expressed concern that without additional funding from Congress, they will not be able to offer new loans, affecting families and businesses trying to recover from the storms.

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Investors should be cautious as the funding issues at the SBA could slow down recovery efforts in affected regions, which may negatively impact local economies and businesses. As recovery funds become limited, businesses that depend on quick access to loans to resume operations may struggle, leading to potential declines in stock prices for companies in disaster-affected areas.

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