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The Demand for Post‐Katrina Disaster Aid: SBA Disaster Loans and Small Businesses in Mississippi
Author(s) -
Josephson Anna,
Marshall Maria I.
Publication year - 2016
Publication title -
journal of contingencies and crisis management
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.007
H-Index - 51
eISSN - 1468-5973
pISSN - 0966-0879
DOI - 10.1111/1468-5973.12122
Subject(s) - hurricane katrina , loan , business , finance , business interruption insurance , government (linguistics) , small business , property insurance , actuarial science , casualty insurance , natural disaster , insurance policy , income protection insurance , general insurance , linguistics , philosophy , physics , meteorology
Following Hurricane Katrina, the United States government provided billions of dollars in loans to repair the damage caused by the hurricane. However, the specifics surrounding demand for these loans and the process of application and approval for Small Business Administration ( SBA ) loans have yet to be fully examined. We analyse the demand of small businesses for such loans and delve into the factors which are associated with success in obtaining loan funds following disaster. Results indicate several factors are important in all of the stages of the loan process: the income of the business, whether the business had insurance or received money in an insurance claim and the gender of the business owner.