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The Senate Small Business Committee approved an overhaul of the government's disaster loan program, which came in for heavy criticism after Hurricane Katrina. and ensure disaster victims receive timely assistance.(Washington Insider)
Set-Aside Alert, April, 2007
The Senate Small Business Committee approved an overhaul of the government's disaster loan program, which came in for heavy criticism after Hurricane Katrina. and ensure disaster victims receive timely assistance.
Among other things, the bill would allow banks to make loans directly to victims, with SBA guaranteeing 85% of the loan amount.
The House Small Business Committee has also approved a version of the disaster loan overhaul. The bills are ready for consideration by both houses.
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