More hurricane money for small businesses

Lamar University Community Outreach Program is partnering with Accion Texas and Southeast Texas Family Resource Center to conduct a Small Business Workshop, which will provide information on the availability of funds that can be used to help small businesses recover from Hurricane Rita and Katrina."We have close to $1 million to give away," said Elton Payne, program manager. Each small business can borrow anywhere from $1,000 up to $5,000 with no collateral, no fees and for the first two years pay interest only payments at two-percent, Payne said.Applicants may use the loan to purchase business related tools and equipment.

Applications will be available on-site and counselors will be there to help with filling out the applications.Many small businesses moved away when the two hurricanes hit, and Payne said the loans might help encourage those who left to come back. "We are hopeful people will return to the area," he said.The workshop is scheduled for 10 a.m. on May 10 at the Southeast Texas Family Resource Center, 2060 Irving St. in Beaumont. The workshop will be conducted by Shirley Brooks, senior loan officer, Accion Texas.

She will be speaking on the Accion Bounce Back Fund. The Bounce Back Fund is a pool of money from which Accion can make small business loans. Accion Texas is a 501 (C) (3) nonprofit organization that provides credit to small businesses that do not have access to loans from commercial sources. Through its loans and services, Accion Texas helps micro entrepreneurs strengthen their businesses, stabilize and increase their incomes, create additional employment and contribute to the economic revitalization of their communities.

Source: http://www.theexaminer.com/npps/story.cfm?ID=138