Hurricanes Helene, Milton deplete SBA's disaster loan program funds

Oct. 15 (UPI) -- The Small Business Administration has no money left to cover disaster loans, but President Joe Biden said that will change in November.

Officials for the SBA on Tuesday announced it no longer has money available to cover disaster assistance loans after SBA Administrator Isabel Guzman last week cautioned Congressional members the SBA had less than $50 million left in its disaster loan fund.

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