Budd secures $1.4 billion grant for western North Carolina

WASHINGTON, D.C. — U.S. Senator Ted Budd (R-N.C.) released the following statement after the U.S. Department of Housing and Urban Development (HUD) approved North Carolina’s Action Plan for $1.4 billion in Community Development Block Grant Disaster Recovery (CDBG-DR) funding. Sen. Budd led a bipartisan, bicameral letter on April 11, 2025, calling on the Trump administration to expedite consideration for North Carolina’s Action Plan.

“After Hurricane Helene devastated Western North Carolina, we have been working tirelessly to rebuild homes, businesses, and infrastructure across the region. Earlier this month, I was proud to lead a bipartisan majority of North Carolina’s congressional delegation in urging the Trump administration to deliver the critical funding our communities need. Just last week, Secretary Scott Turner announced North Carolina has been awarded $1.4 billion to jumpstart the rebuilding process. This life-changing investment will provide real relief to the thousands of families who suffered from Helene’s destruction. I am grateful to the Trump administration for answering our call, acting swiftly, and demonstrating their commitment to our state’s recovery,” said Senator Budd.

BACKGROUND

Sen. Budd led eleven of his congressional colleagues in sending the letter to HUD earlier this month, to help secure this CBDG-DR funding.

Tillis introduces legislation to help small businesses affected by helene

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.