Tillis Introduces Legislation to Help Small Businesses Affected by Helene

WASHINGTON, D.C. – Senator Thom Tillis recently introduced theHelene Recovery Small Business Actand theLoans 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:
TheHelene Small Business Recovery Actwould 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.
TheLIONsActamends theSmall Business Actby increasing the maximum gross loan amount for section 7(a) loans. TheLIONs Actseeks 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 theHelene Recovery Small Business Actis availableHEREand theLIONsActHERE.
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