The agency says it has spent its national disaster relief fund after raising just $3.2 million of a needed $15 million for this month's severe flooding in Iowa and elsewhere in the Midwest, which has left more than 36,000 people homeless, The Washington Post reported Tuesday.

Red Cross officials said the relief tab for the flooding could reach $40 million if the surging Mississippi River causes significant damage in the St. Louis area and is coming at a time when many donors are being hit by rising gas and food costs and the housing market crisis, the Post reported. Because of the situation, the charity is obtaining loans to pay for its operations.

"The disaster relief fund today is completely depleted. The balance is zero," Jeffrey Towers, the Red Cross' chief development officer, said Monday, adding that the charity "needs immediate funds to deploy in a variety of ways to provide the scale of services that this disaster demands."

Red Cross officials didn't say how much debt they are accumulating.