Congress Allocates $2.2 Billion for Hurricane Relief Efforts

December 24, 2024 - 21:09

In a significant move to support businesses affected by recent hurricanes, Congress has approved a continuing resolution that allocates $2.2 billion to replenish the Small Business Administration's disaster loan fund. This funding aims to assist those impacted by Hurricane Helene and Hurricane Milton, which caused extensive damage and disruption.

The allocation is expected to provide much-needed financial relief to small businesses struggling to recover from the devastating effects of the storms. Many entrepreneurs have faced challenges in rebuilding their operations, and access to low-interest loans will be crucial for their recovery efforts.

Lawmakers emphasized the importance of swift action to ensure that affected businesses can access the resources they need to bounce back. The disaster loan program has been a vital lifeline for many, and this infusion of funds will help restore confidence in the economic stability of the regions hit hardest by the hurricanes.

As communities begin the long process of recovery, this funding represents a critical step toward rebuilding and revitalizing local economies.