
COLUMBUS, Ohio (AP) -- Low-interest loans meant to speed economic recovery from the September Eleventh attacks helped a Cleveland airport convenience store and video producers in southeast Ohio who were caught up in the nation?s recession.
But a dentist and owners of a day spa, custard stand and other Ohio businesses say they had no idea they received terrorism-related aid.
An Associated Press review of the $5 billion U.S. Small Business Administration loan program found several borrowers with little or no connection to the terrorist attacks. Many say their banks never told them what type of loan they were getting.
The SBA says the banks were on an honor system to keep a written record of the borrowers? Nine-Eleven connection. The banks say they followed all federal regulations.
Sept. 11 disaster relief flowed to Ohio
DISASTER AID: Congress declared the nation a disaster area shortly after the Sept. 11, 2001, terrorist attacks, making businesses eligible for low-interest, guaranteed loans.
THE INTENT: Many Ohio businesses met the deliberately loose criteria of showing the attacks directly or indirectly harmed them economically: a fledgling video production company, an airport convenience store, several travel and shipping companies.
FAR AFIELD: The government put banks on an honor system to find qualifying businesses and record how 9/11 affected them. But many borrowers say their banks never discussed the attacks with them, and some said they escaped the nation?s economic slump. Lenders say they followed federal rules.
© 2010 The Associated Press
Updated: 9/8/2005 2:46:31 PM Posted: 9/8/2005 2:45:39 PM







