Enormous Job
In Louisiana

I recently visited hurricane-ravaged New Orleans. Words cannot describe the devastation that Hurricanes Katrina and Rita brought to the area. But let me try.

Sixteen parishes (counties) surrounding New Orleans were devastated. Nearly 250,000 local residents were displaced to locations throughout the United States. Over 200,000 homes were totally destroyed and another 45,000 experienced severe damage and now require extensive reconstruction. Of the 190,000 small businesses in Louisiana, about 81,000 are eligible for federal assistance. These hurricanes have created a declared disaster area extending 96,000 square miles, a geographic footprint the size of Great Britain (Vermont has 9000 square feet).

As I traveled through New Orleans and the surrounding areas with U.S. Small Business Administration senior management, in town to determine how best to help, we were all struck by the strength of character and sheer will demonstrated by these remarkable people in the face of tragedy.

Their concern? That the rest of America might forget them, might get swept up in the next international incident or national news item. We must not let our neighbors down.

Now that immediate life-sustaining needs have mostly been met, it's time to roll up our sleeves and rebuild the Gulf Coast. In an unprecedented manner, the SBA has mobilized its disaster assistance effort to help with the long-term recovery of the residents and business owners affected by the storms.

The SBA's Office of Disaster Assistance has grown from 880 before Katrina struck to over 4,000 personnel dedicated to providing assistance through our low-interest, government-backed disaster recovery loan programs available to homeowners, renters and businesses in the disaster area. To date, over $530 million in disaster loans have been made as a result of the hurricanes…

We've simplified documentation requirements and we're expediting business disaster loans under $100,000. In an effort to quickly put cash in the hands of small businesses in the affected area, we just announced the introduction of the GO Loan Program, which processes loan applications in 24 hours.

Rebuilding New Orleans and the Gulf Coast region will continue to be a massive undertaking. Our hope is that once we see the collective results of everyone engaged in the recovery and reconstruction efforts, we will look back with pride and satisfaction as the region comes back as strong as ever.

To learn more about the SBA's disaster assistance program, please visit: www.sba.gov

Kenneth A. Silvia

District Director,

SBA Vermont