SBA disaster loan program out of money after hurricanes, Biden says

President Biden speaking on Sunday in St Pete Beach, Florida, which was impacted by Hurricane Milton. Photo: Joe Raedle/Getty Images The Small Business Administration has "exhausted funds for its disaster loan program" following increased demand as officials respond to Hurricanes Helene and Milton, the SBA announced Tuesday. Why it matters: President Biden said in a statement first shared with the Washington Post that the program is "a critical lifeline to small businesses, homeowners, and renters affected by disasters." • The SBA said in a statement that it's "pausing new loan...