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Funding Crisis for Disaster Relief in Wilmington, N.C.

WILMINGTON, N.C. (WECT) – In a concerning turn of events, one organization recently authorized to assist homeowners and business owners in financially recovering from the aftermath of Potential Tropical Cyclone 8 has unfortunately run out of funding. This situation underscores the ongoing challenges faced by those affected by natural disasters.

SBA Funding Depleted Due to Unforeseen Circumstances

A spokesperson for the Small Business Administration (SBA) announced that, while they received their usual allocation of funding this year, the extent of the damage caused by Hurricane Helene in the western part of North Carolina was both widespread and unexpected. This unforeseen circumstance has led to the depletion of their budget, leaving over 6,000 applicants seeking loans in a precarious situation.

“The impact of Hurricane Helene has severely stretched our resources, making it impossible for us to disburse any additional funds at this time,” said spokesperson Donika Farnham, illustrating the financial strain that the SBA is currently experiencing. “Our funding is typically reserved at the start of the fiscal year, and given that Helene affected six states extensively, we now find ourselves unable to assist those who urgently need help.”

The Urgency of Congressional Support

In light of the pressing need for disaster relief, the SBA has formally requested additional funding from Congress to continue providing support for those impacted by the storms. However, it is worth noting that Congress is currently in recess and will not reconvene until November 12. An emergency session request was made, yet House Speaker Mike Johnson has denied it, further complicating the situation for affected individuals and businesses.

Farnham remains cautiously optimistic, stating, “We anticipate that Congress will eventually pass the additional funding. It’s just a matter of time.” She emphasized the necessity of this funding, which is categorized as emergency and disaster relief, typically regarded as a high priority with minimal legislative pushback.

Encouragement to Apply for Loans

While waiting for additional funding, the SBA encourages those affected by Potential Tropical Cyclone 8 to go ahead and submit their loan applications. Farnham explained, “It’s crucial that people apply now, as being in the queue ensures they will be considered when funds become available. Although we cannot provide immediate payouts due to the current funding crisis, those who apply will not be denied based on our inability to disburse funds at this moment.”

This proactive approach helps ensure that victims of the disaster can access financial aid quickly once the necessary resources are restored.

Additionally, for individuals seeking immediate assistance, Farnham mentioned that there are state agencies currently available to help, providing alternative options while the SBA navigates this challenging funding landscape.

Future Preparedness in the Face of Increasing Storms

As powerful storms like Helene become increasingly frequent, Farnham acknowledged a pressing need for the agency to evaluate its funding models. “Given that these disasters may become the new norm rather than rare extreme events, we must consider increased funding for the SBA on an annual basis,” she stated. This perspective aims to prepare both the agency and the nation for the inevitable challenges posed by climate change.

Disaster Loan Outreach Center Available

For those interested in receiving assistance, a Disaster Loan Outreach Center staffed with SBA workers is currently available in Brunswick County. Individuals are strongly encouraged to visit, apply, or seek guidance; however, it is important to note that this center will cease operations permanently on Friday at noon.

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