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
- Half century of memories — Christmas on Deer Creek to celebrate 50th anniversary
- Investigators find massive Ag Museum fire was an accident
- Analyst: KiOR Columbus plant may end up sold as scrap
- Prison-contract task force working in wake of Epps' indictment
- (UPDATE) Gov. Bryant: $1.2 billion aluminum plant is a very exciting proposition for the state of Mississippi
- Bryant wants free tuition for students with technical diploma
- Former MDEQ Executive Director Trudy Fisher joins Butler Snow
- BILL CRAWFORD: Bryant’s tax cut won’t stop spending growth
- Prescott leads field for Conerly Trophy as state's best football player
- Court hits David Watkins with $600,000 order over Retro Metro issues