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Katrina tale of SBA failures shadows Gulf Coast recovery
Five years after Katrina, SBA loan officers faced pressure to close files fast, turning away qualified applicants and misplacing paperwork. The AP found 55 percent of home and business applicants were rejected, only 60 percent of approved funds disbursed, and many borrowers left waiting as the agency rebuilt its processes amid the BP spill era.
MENTIONED IN THIS ARTICLE
Chalmette
Jay Young
Karen Bazile
Small Business Administration
New Orleans
Texas
SBA
BPPLC
Associated Press
Gulf Coast
Gale Martin
Lakeview
9Th Ward
St. Bernard Parish
James Rivera
Office of Disaster Assistance
Martin
Brad Durtschi
FEMA
Katrina
Rita
Fort Worth
Young