[StBernard] St. Bernard Citizens Recovery Committee Created; Emergency Bridge Loans Available for Businesses

[Westley Annis]

St. Bernard Citizens Recovery Committee Created; Emergency Bridge Loans
Available for Businesses 

November 7, 2005

By: Steve Cannizaro


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A group of 25 community and business leaders of St. Bernard Parish will
comprise a new Citizens Recovery Committee to help advise officials on
redeveloping the parish.

Council Chairman Joseph DiFatta Jr. said Fourth Circuit Court of Appeal
Judge David Gorbaty and lawyer Walter Leger will co-chair the committee, The
group will meet for the first time at 2 p.m. Wednesday in the tent behind
the parish government building.

Named so far to the committee were lawyer and former Council member Danny
Dysart, retired dentist Dr. Ralph Dauterive, supermarket owner Steve Fecke,
and restaurateur Mark Benfatti.

Of the committee, Diatta said, "I'm asking them to help us with the
long-term recovery of the parish'' and advise the Council over the next ear.
"These are the people who are involved in everything in the parish.'' 

The size of the committee can be adjusted as time goes by, he said.

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St. Bernard Parish businesses needing an infusion of cash to reopen can
apply to banks for what is called a Louisiana Small Business Emergency
Bridge Loan, parish officials said.

Loans of up to $25,000 that are interest-free for up to six months are
available under the program, said former St. Bernard Parish President
Charles Ponstein, a member of a committee appointed by parish government to
help businesses reopen. The loans are at 4 percent interest, he said.

"This is the quickest and easiest way to get money'' for small businesses to
reopen while waiting for insurance money or for loans from the U.S. Small
Business Administration, Ponstein said. 

When money comes through from SBA it can be used to pay off the bridge loan,
Ponstein said.

He said there are about 3,000 businesses in St. Bernard Parish.

Area banks, including Gulf Coast, Hibernia and Regions, are participating in
the bridge loan program, Ponstein said. Banks will have applications
available for the program, he said. Council member Mark Madary and business
operator Tim McDonald are also members of he committee, as we ll as banking
officials.