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Article Excerpt
As of Labor Day 2006, the U.S. Small Business Administration (SBA) had approved 157,432 loans totaling more than $10.5 billion in disaster loans to homeowners, renters and businesses affected by Hurricanes Katrina, Rita and Wilma, surpassing the previous record set after the Northridge Earthquake in California in 1994.
Of that, 35,421 loans were approved in Mississippi valued at almost $2.6 billion.
Even before Congress passed GOZA, the SBA began beefing up its staff of lenders in Mississippi for its GO Loan Pilot Program. Within the last year, SBA has added 15 new lenders that cover the regular 7(a), Express Loan and Gulf Opportunity...
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