The Wedge Brewery in Asheville, North Carolina, owned by Lucious Wilson, was destroyed by flooding caused by Hurricane Helene. Wilson and many others affected by recent hurricanes have applied for low-interest loans from the Small Business Administration’s disaster fund, but the fund has run out of money. The Biden administration is urging Congress to return early to approve new funds, but this is unlikely to happen before November 12. Despite the funding issues, the SBA is still processing loan applications and encouraging those affected to apply. The loans are provided to help businesses and individuals recover from uninsured losses after a disaster, with the first repayment deferred for a year. However, Wilson is hesitant to apply for a loan due to his uncertain financial situation.
Before the funds ran out, 750 applicants had been approved to receive a total of $48 million in loan money. The program has been targeted by fraud in the past, leading the SBA to strengthen its vetting process. Wilson is focused on rebuilding his second location but struggles to think about the possibility of never being able to rebuild his original brewery. The delay in funding highlights the challenges faced by those impacted by natural disasters in accessing federal aid, particularly in the current political climate leading up to the November election.
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