Posted by Molly Nelson -
BizBox notes that SBA Administrator Karen Mills said earlier this week "that the SBA would make low-interest loans available to small businesses along the Gulf Coast threatened by the massive BP oil spill."
The SBA is offering working capital loans of up to $2 million at an interest rate of 4 percent with terms up to 30 years. In an interview, FDIC Chairwoman Sheila Blair said her agency was urging banks to take the crisis into account when dealing with borrowers in the Gulf Coast region.
For more, visit the
SBA's Disaster Assistance website.
[
Help for Small Businesses in the Gulf]