{"id":33490,"date":"2024-10-15T21:01:00","date_gmt":"2024-10-16T02:01:00","guid":{"rendered":"https:\/\/ustower.net\/?p=33490"},"modified":"2024-10-31T22:41:22","modified_gmt":"2024-11-01T03:41:22","slug":"sba-loan-program-runs-out-of-money","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=33490","title":{"rendered":"SBA loan program runs out of money"},"content":{"rendered":"\n<p class=\"has-medium-font-size\">A federal program that provides&nbsp;disaster loans to businesses and homeowners&nbsp;is out of money following back-to-back hurricanes,&nbsp;<a href=\"https:\/\/thehill.com\/people\/joe-biden\/\"><u>President Biden\u2002<\/u><\/a>said Tuesday.&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Biden said in a statement that the Small Business Administration\u2019s disaster loan program is out of funds.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">\u201cSpeaker Johnson has promised that this and other disaster programs will be replenished when Congress returns, so&nbsp;<strong>Americans should continue to apply<\/strong>&nbsp;for these loans. SBA will continue to process applications and will disburse loans as soon as Congress provides the needed funding,\u201d Biden said.&nbsp;<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The statement was first reported by&nbsp;<a href=\"https:\/\/www.washingtonpost.com\/business\/2024\/10\/15\/sba-disaster-fund-is-out-money-biden-says\/?email=467cb6399cb7df64551775e431052b43a775c749&amp;emaila=12a6d4d069cd56cfddaa391c24eb7042&amp;emailb=054528e7403871c79f668e49dd3c44b1ec00c7f611bf9388f76bb2324d6ca5f3&amp;utm_source=Sailthru&amp;utm_medium=email&amp;utm_campaign=10.15.24 %E2%80%94 Energy &amp; Environment %E2%80%94 CMS RF BH\"><u>The Washington Post<\/u><\/a>.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><br><strong>Speaker&nbsp;<\/strong><a href=\"https:\/\/thehill.com\/people\/mike-johnson\/\"><u>Mike Johnson\u2002<\/u><\/a><strong>(R-La.)&nbsp;<\/strong>said Thursday that there\u2019s \u201cno question these devastating back-to-back storms have stressed the SBA funding program.\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size\">However, he also said the administration \u201chas the necessary disaster funding right now to address the immediate needs of American people in these hurricane affected areas.\u201d<br><br>\u201cCongress is tracking this situation closely, and when members return in just a few short weeks, the administration should have an accurate assessment of the actual dollar amount needed and<strong>&nbsp;there will be strong bipartisan support to provide the necessary funding<\/strong>.\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/thehill.com\/newsletters\/energy-environment\/4935372-sba-loan-program-runs-out-of-money\/\">thehill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A federal program that provides&nbsp;disaster loans to businesses and homeowners&nbsp;is out of money following back-to-back hurricanes,&nbsp;President Biden\u2002said Tuesday.&nbsp; Biden said in a statement that the Small Business Administration\u2019s disaster loan program is out of funds. \u201cSpeaker Johnson has promised that this and other disaster programs will be replenished when Congress returns, so&nbsp;Americans should continue to [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":33491,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[8268,730,1979,9274],"class_list":["post-33490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-politics","tag-depletion","tag-loan","tag-money","tag-sba"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/33490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33490"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/33490\/revisions"}],"predecessor-version":[{"id":33492,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/33490\/revisions\/33492"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/33491"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}