11/06/1962
https://www.presidency.ucsb.edu...
"Well, suppose I have $200,000 of damage, but I can only pay back $50,000, which is why I took $50,000."
"Let us suppose that I flood, and I apply for an SBA loan, and I am approved, and I take the loan."
"How can I explain this to somebody who just lost their home?"
"Let me be sure I understand. You are saying yes. I can take block grant money and use it to pay off an SBA loan."