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SBA Touts Loan System Overhaul Five Years After Katrina

The SBA looked to the owners of a New Orleans seafood processor as an example of how the agency said it was not prepared to handle the deluge of relief requests after Hurricane Katrina.

By Michelle A. Samaad | Updated on August 25, 2010

The SBA looked to the owners of a New Orleans seafood processor as an example of how the agency said it was not prepared to handle the deluge of relief requests after Hurricane Katrina.

Tommy’s Seafood suffered major damage to its two facilities including equipment and inventory loss after the catastrophic storm in August 2005 caused destruction on the Gulf Coast, the SBA said. Tommy and Maria DeLaune, the business’ owners, had applied for an SBA disaster loan in October 2005 but didn’t get approved until May 2006 and the loan wasn’t fully disbursed until October 2006, a year later, the SBA said.

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