SBA Asks Banks to Help With Katrina Backlog
Due to the massive demand for loans following the Hurricane Katrina strike on the Gulf States, the Small Business Association is asking the U.S. banking industry to borrow loan officers to help reduce the back log of loan applications. The SBA has received more than 200,000 applications and this is the first time it has asked private industry for help.
SBA said that loan officers would be hired as special government employees and would serve for two months in Fort Worth, Texas. SBA is also looking for retired loan officers who have been out of the business for fewer than 10 years.
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