After Hurricanes Helen and Milton struck just days apart, the Small Business Administration received nearly 50,000 applications for disaster relief.
The SBA is currently underfunded in its Disaster Assistance Loan Program and will need to suspend it.
While the agency’s loans are intended to provide assistance to small businesses, renters, and homeowners, the SBA is currently encouraging citizens to turn to other agencies like FEMA for relief if they can. is calling out to
RELATED | News from Mayorkas to Scripps: Some hurricane survivors reluctant to accept FEMA aid due to misinformation
Rob Schroeder, MarketWatch’s Washington bureau chief, said the SBA received “overwhelming demand” after multiple hurricanes and “money moved quickly.”
This prompted government agencies to suspend disaster programs and many to consider state and county aid options.
Other federal programs have also addressed unique post-hurricane struggles.
In a Scripps News investigation, Sec. Alejandro Mayorkas said some hurricane survivors are reluctant to accept certain types of aid from FEMA because of widespread misinformation.
