WASHINGTON, D.C. – Senator Thom Tillis recently introduced the Helene Recovery Small Business Act and the Loans in Our Neighborhoods (LIONs) Act of 2025, legislation that would provide much-needed relief to small businesses as they work to recover from the devastation of Helene.

“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,” said Senator Tillis. “These commonsense bills give business owners the tools they need, including greater access to capital and critical disaster aid, which will help them recover and grow. I’m proud to introduce these critical bills to cut red tape and deliver real relief to those who need it most.”

Background:

The Helene Small Business Recovery Act would waive the duplication-of-benefits prohibition that currently prevents small businesses that receive SBA disaster loans from also accessing Community Development Block Grant Disaster Recovery (CDBG-DR) funds. This change would ensure that businesses impacted by Hurricane Helene can access the full range of federal aid needed to rebuild and recover.

The LIONs Act amends the Small Business Act by increasing the maximum gross loan amount for section 7(a) loans. The LIONs Act seeks to raise the limit from $5,000,000 to $10,000,000, providing more significant financial support to small businesses. The bill also includes a 75% guaranteed rate on loans of up to $10 million, providing a guarantee from the SBA and making the program more attractive for lenders. 

Full text of the Helene Recovery Small Business Act is available HERE and the LIONs Act HERE.

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