news from the sba
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The SBA has been hit hard since last fall’s hurricane season. Hurricanes Katrina, Rita, and Wilma did countless damage to the Gulf Coast. Texas, Louisiana, Alabama, and Mississippi are among the states hardest hit by the storms and the SBA has been trying to help residents and small businesses pick up the pieces.

A large backlog of loan requests has been keeping the SBA busy for months. The backlog of applications has been so large that the SBA has made requests to borrow loan officers from the banking industry. The disasters were the largest in the agency’s history and the SBA has further requested assistance from the private sector. The agency solicited businesses around the country for suggestions on how it can best deliver its Disaster Assistance Program. The SBA will have concluded this process on May 2 nd.

Some facts regarding the disaster and the SBA include: introduction of new preferred lenders, such as Commerce Bank; and over $7 billion in rebuilding loans totaling over 17,000 loans altogether. The State of Louisiana has totaled approximately $4.5 billion in loan approvals alone.

SBA lenders in Nebraska include: First National Bank of Omaha, American National Bank, Great Western Bank, Wells Fargo, and US Bank. For more information on how to apply for an SBA loan, contact your PTAC consultant.