America’s small businesses impacted by Hurricane Helene would receive federal relief under two pieces of legislation recently led by U.S. Sen. Thom Tillis (R-NC).
“Western North Carolina’s small businesses are still reeling from the devastation of Helene, and we have a responsibility to help them rebuild stronger than before,” Sen. Tillis said on April 24. “These common-sense bills give business owners the tools they need, including greater access to capital and critical disaster aid, which will help them recover and grow.”
Sen. Tillis sponsored both the Helene Recovery Small Business Act, S. 1451, and the Loans in Our Neighborhoods (LIONs) Act of 2025, S. 901.
S. 1451, which Sen. Tillis introduced on April 10, would waive the duplication-of-benefits prohibition that currently prevents small businesses that receive Small Business Administration (SBA) disaster loans from also accessing Community Development Block Grant Disaster Recovery funds.
This change would ensure that businesses impacted by Hurricane Helene could access the full range of federal aid needed to rebuild and recover, according to a bill summary provided by the senator’s staff.
On March 6, Sen. Tillis proposed S. 901, which would amend the Small Business Act to increase the maximum gross loan amount for section 7(a) loans from $5 million to $10 million.
Additionally, S. 901 includes a 75-percent guaranteed rate on loans of up to $10 million from the SBA to help make the program more attractive for lenders, the summary says.
“I’m proud to introduce these critical bills to cut red tape and deliver real relief to those who need it most,” said Sen. Tillis.