SBA Administrator Karen Mills announced today the agency ismaking low-interest loans available to Louisiana Gulf Coast smallbusinesses suffering financial losses following the April 20Deepwater BP oil spill.

The agency's Economic Injury Disaster Loans are available up to$2 million at an interest rate of 4% with terms up to 30 years.Eligible business include those engaged in shrimping, crabbing andoyster fishing and others dependent on those industries that wereaffected by the oil spill.

The SBA is encouraging credit unions and other 7(a) lenders andcertified development companies to consider on a case-by-case basisdeferment relief for borrowers with 7(a) loans and 504 loans.

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