News by SB Informer

SBA loan approvals in Mississippi surpass $2.5 billion for Hurricane Katrina victims

SB Informer
Monday, July 10, 2006; 04:27 AM

More than $2.5 billion in U.S. Small Business Administration Disaster Assistance Loans have been approved for over 34,800 residents and business owners in Mississippi who were affected by Hurricane Katrina.

"As a major partner in the disaster recovery process, we are pleased to be able to get these loans approved so the residents of Mississippi can continue to rebuild and return their lives to some sense of normalcy," said Frank Skaggs, Director of SBA Field Operations Center East. "SBA is the primary source of long-term recovery assistance for restoring and rebuilding homes, personal property, non-farm businesses of all sizes and private nonprofit organizations that sustained losses."

In Mississippi, the SBA has approved 34,870 disaster loans for $2,506,728,900.

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