Small Business


The U.S. Small Business Administration extended its Gulf Opportunity Pilot Loan Program (GO Loans) through Sept. 30, 2010. The SBA said in a press release that demand for GO loans has increased significantly in fiscal year 2009 in response to the continued need to rebuild Gulf Coast areas.

 

The SBA launched the GO Loan Pilot in November 2005 to provide expedited financial assistance to small businesses severely impacted by Hurricanes Katrina and Rita. Under the program, the SBA provides 85% guarantees (90% under Recovery Act provisions) and streamlined, centralized processing to all eligible lenders that make expedited 7(a) loans to small businesses located in, moving to or relocating within parishes and counties included in disaster declarations related to those storms.

 

In 2008, the SBA approved 301 GO loans for $25.2 million. Through Sept. 25, 2009, the SBA had approved 557 GO loans for $35.1 million.

 

More information on the GO Loan Pilot Program is available at tinyurl.com/yepmavp. A list of all eligible parishes and counties is available at tinyurl.com/ybyvms2.

 

SPONSORED REPORT

Cybersecurity threats proliferating for midsize and smaller businesses

This report details how SMBs can properly protect private information from breaches, design and implement a cybersecurity policy, and create safeguards for training and education.

QUIZ

Test yourself on these often confused words

The spelling checker on your word processing program can do only so much to flag problems. Your best insurance is to learn the troublesome words that trip up writers and use them correctly by the standards of formal, written English.