In Hurricane Helene’s wake, feds could fall short on money to help businesses after Congress declined to add to storm relief funding
As Hurricane Helene bore down on Florida’s Panhandle on Thursday, lawmakers in Washington prepared to leave town without allocating additional money to help small businesses recover from major storms.
A bipartisan continuing resolution passed the House of Representatives on Wednesday by a 341-82 vote and the U.S. Senate by 78-18. A signature from President Joe Biden will keep federal agencies open through Dec. 20, providing funding to various federal programs, including the Federal Emergency Management Agency.
But among the vast array of federal storm recovery programs designed to help businesses regain their financial footing, the Small Business Administration received only $40 million for maintaining operations, not for additional money to fund disaster loan programs to help damaged small businesses get back on their feet.
The agency, in a statement late Thursday to the South Florida Sun Sentinel, said that while the SBA is not devoid of resources, its ability to fund loans after Hurricane Helene could quickly diminish.