After the Riots / NEWS IN BRIEF : City to Hire 5 Experts to Help Process Loan Applications
The Los Angeles City Council voted unanimously Tuesday to hire five loan experts to help process disaster loan applications from riot victims.
The mayor’s Business and Economic Development Office has established a $6-million fund to help riot victims who were denied loans by the federal Small Business Administration.
So far, more than 500 cases have been referred by the SBA to the mayor’s office, said Deputy Mayor Linda Griego. But the two staffers working on the loan program have been hard-pressed to handle the deluge, according to Griego.
Griego said officials were concerned that many riot victims might be forced from homes and businesses because of delays in handling their cases.
Officials also determined that the long and complicated loan process required the services of staff members with special knowledge of loan requirements.
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