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September 13, 2005
Sept. 11 Disaster Loans Misused
In a story reported by the Associated Press, the disaster loans established to help businesses harmed by the Sept. 11 terrorist attacks always were not used for that purpose. In Colorado alone, 411 loans were issued under the Supplemental Terrorist Activity Relief (STAR) loan program administered by U. S. Small Business Administration. Some of the businesses who received the STAR loans include a liquor store, a tire-store chain and a nail salon.
In a terse press release, Senate Small Business Committee Chair Olympia Snowe (R-Maine) stated, "The apparent widespread abuse of loans provided through the Supplemental Terrorist Activity Relief Act is nothing short of an outrage."
Posted by WorkerBee at September 13, 2005 09:18 AM