SBA offers zero-interest loans for hurricane victims as Congress considers funding boost

In a heartfelt address at the Ashe County Commission meeting, Brian Frydenberg from the U.S. Small Business Administration (SBA) highlighted the ongoing impact of a recent hurricane that devastated the region over two months ago. Frydenberg expressed his sympathy for those affected, emphasizing that the disaster's effects are still being felt throughout the community.

Frydenberg detailed the SBA's assistance programs, which extend beyond small businesses and nonprofits to include homeowners and renters who suffered damage from the storm. He clarified that individuals with any form of property damage—be it to storage units, vehicles, or yards—are eligible for support. Additionally, those who experienced economic losses due to business closures related to the hurricane can also seek relief.

The SBA is currently offering loans with zero interest and no payments for the first year, providing a crucial financial lifeline for those struggling to manage debts while awaiting insurance payouts or other forms of assistance. Frydenberg noted that many residents may not be aware of the SBA's resources, which could significantly aid their recovery.

However, he pointed out a pressing issue: the program is awaiting Congressional funding to continue supporting the high demand for assistance. Frydenberg stressed the importance of raising awareness about the SBA's offerings, especially given the scale of the disaster, which has been described as the largest in both the agency's and FEMA's history in terms of the area affected.

As the community grapples with the aftermath of the hurricane, Frydenberg's message serves as a reminder of the available resources and the need for continued support and awareness in the recovery process.