Joni Ernst accuses SBA of transparency problem after relief funds ran out

Sen. Joni Ernst (R-IA) accused the Small Business Administration of not being transparent about its spending of disaster relief funds after the agency ran out.

On Monday, President Joe Biden announced that the SBA’s disaster loan program ran out of money after Hurricane Helene and Hurricane Milton. While those affected by the disasters can still apply for loans, funds will be unavailable until next month, when Congress is set to approve new funding. In the meantime, Ernst accused the SBA of not properly disclosing its financial situation, resulting in it running out of funds at an inopportune time.