SBA Extends Gulf Opportunity Pilot Loan Program through September 2010

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U.S. Small Business Administration

— News Release —


Release Date:  September 29, 2009    
Contact: David J. Hall (202) 205-6697
Release Number: 09-66   
Internet Address:

SBA Extends Gulf Opportunity Pilot Loan Program through September 2010

Measure to benefit businesses affected by Hurricanes Katrina, Rita
WASHINGTON- The U.S. Small Business Administration is extending its Gulf Opportunity Pilot Loan Program (GO Loans) through Sept. 30, 2010, Administrator Karen Mills announced today. 

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, SBA provides 85 percent guarantees (90 percent 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 Hurricanes Katrina and Rita.

The demand for GO loans has increased significantly in FY 2009 in response to the continued need to rebuild the Gulf Coast areas.  In 2008, SBA approved
301 GO loans for $25.2 million.  Through April 2009, SBA had already approved
518 GO loans for $32.7 million.  

The notice announcing the extension was published in the Federal Register today. For more information on the GO Loan Pilot Program, visit the SBA Web site at ;

A list of all eligible parishes/counties is available at .

Aepiphanni Business Consulting is a Strategy Consulting Firm dedicated to serving the needs of business leaders and executives. We specialize in helping people get into business, and stay there.  We welcome clients in the personal and professional services industries, including restaurants, catering and event planning.  As always, we welcome your comments, thoughts, questions and suggestions.  If you are seeking a business assessment, or have further questions about creating your strategy or developing your vision, please give me, Rick Meekins, a call at 678-265-3908, or email us at [email protected].

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Technorati Tags: SBA,Loan,Gulf Opportunity Pilot

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