Barbour requests SBA aid for oil-spill losses
MISSISSIPPI GULF COAST — Gov. Haley Barbour announced today he has requested assistance from the U.S. Small Business Administration (SBA) to aid businesses that have been financially impacted by the Deepwater Horizon BP oil spill in the Gulf of Mexico since April 20.
“The oil spill has the potential to impact many small businesses across the Gulf Coast, and in some cases it already has,” Barbour said. “SBA loans are another tool needed to help offset the economic injury our coastal businesses are experiencing. Our maritime, fishing and energy industries are vital employers and significant components of our state’s coastal economy.”
If granted, the SBA disaster loans would be available to qualified businesses and nonprofit organizations in George, Hancock, Harrison, Jackson, Pearl River and Stone counties that have been affected by the ongoing spill. If BP compensates a loan recipient, the business will be expected to pay back the SBA loan.
Economic injury disaster loans would provide necessary working capital until normal operations resume after the impact of the oil spill disaster subsides.
Additionally, Barbour has requested that SBA temporarily suspend loan repayments for Mississippi coastal businesses impacted by the oil spill who have 2005 and 2008 SBA disaster and economic injury loans as a result of Hurricanes Katrina and Gustav.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “Barbour requests SBA aid for oil-spill losses”
Top Posts & Pages
- Source: Bryant has offered Glenn McCullough MDA job
- COMMERCIAL FINANCE 701: Loans disguised as government bonds (BOANs)
- (WITH VIDEO) Funding secured for Capitol Art Lofts in downtown Jackson
- PHIL HARDWICK: The third grade reading gate, book buddies and school principals
- Two new casinos like the odds on Mississippi Gulf Coast
- TRANSITION AT THE MDA — Is Mississippi better off than it was 3 years ago?
- WRESTLING SUCCESS — Ted DiBiase Jr. leaves ring to become entrepreneur
- College Board names Glenn Boyce as higher education chief
- Nehi Bottling Company has been a Cleveland fixture for 85 years