As of Tuesday, the SBA had approved 4 percent of the loan applications filed in the wake of hurricanes Katrina and Rita. Isaacson noted that the 90-day mortgage grace period extended by banks ends this week.
"Starting Dec. 1, businesses start to die," Isaacson said. "This is an emergency and they have to start operating like an emergency agency."
No need to hurry. The bankruptcy laws are pretty lenient. Oh, I forgot they changed them in October, didn't they?
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