SBA 9/11 Economic Injury Disaster Loans were a lifeline for small businesses and their employees after the September 11, 2001 Terror Attacks, but those lifelines are now strangling families who lost their businesses despite the loans. They still have to pay these business disaster loans because the SBA required a personal guarantee from business owners to receive any funds. Families who default on the loans lose their homes (which were required as collateral), are denied federal employment, have their tax refunds and other federal payments seized, and their children are ineligible to borrow federal funds for college. The Administration should forgive 9/11 SBA Disaster Loans for families whose businesses have ceased and who are now personally financially insolvent.
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