Washington, D.C. — Senators Ted Budd (R-NC) and Thom Tillis (R-NC), alongside Senators Tim Scott (R-SC), Bill Cassidy, M.D. (R-LA), and Rick Scott (R-FL), announced plans to introduce legislation that would replenish the Small Business Administration (SBA) Disaster Loan Program.
On October 15th, the SBA announced the Disaster Loan Fund had run out of money.
Senator Budd said in a statement:
“The citizens of Western North Carolina are some of the toughest and most resilient people in this country. As they recover and rebuild their communities, they must be able to access disaster loans from SBA. This recovery will take many years, and I look forward to working with my colleagues to cut through the delays and provide WNC with the resources they need as quickly as possible.”
Senator Tillis said:
“The SBA Disaster Loan Program running out of funds risks delays in processing the loans of those affected by Helene and Milton and their ability to get their lives back on track. That is why I am leading legislation to replenish this fund when Congress returns to Washington, and I look forward to working across the aisle to pass a long-term disaster aid package that will provide additional resources to help make the victims of these hurricanes whole again.”
Senator Cassidy said:
“Hurricanes Francine, Helene, and Milton hit us hard, but Louisianans and Americans are resilient. This funding is essential to help small businesses recover from these storms and support our local economies.”
Senator Rick Scott said:
“We cannot allow frontline federal agencies, like the SBA, to run out of disaster relief funds. This is especially important in the wake of Hurricanes Helene and Milton which devastated Florida, North Carolina and communities across the Southeast U.S. I continue to call on Leader Schumer to immediately reconvene the Senate so we can fund disaster relief functions at FEMA, the SBA, USDA and other agencies to get folks what they need and deserve. I won’t stop fighting to get this done and am proud to join my colleagues to introduce a bill that funds SBA disaster loans and makes sure the federal government is a reliable partner as families continue their recovery.”
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