I've now heard back from the two state officials who kindly helped me
with this question:
Carolyn Turner, who is the Freedom of Information Act Coordinator for
Rural Development in Texas, just replied to me this afternoon. She
spoke to the state's "Rural Business Program Director concerning the
number of hotel loans made through our agency that have defaulted
since 9/11/01. We are happy to report that we have no hotel loans that
have defaulted since 9/11/01."
John H. Broussard, Business and Cooperative Programs Director for USDA
Rural Development in Louisiana, wrote me back yesterday, "No hotel
loans financed under the USDA Guaranteed B&I [B&I = Business &
Industry] program in Louisiana have defaulted since 9/11."
So, if you were thinking of pursuing a loan to start up a hotel in
either state, things certainly look promising.
I found the USDA's Rural Development offices for Louisiana and Texas
at these sites:
Rural Business-Cooperative Service
State & Field Offices:
Just follow the state links there to find information for the precise
state offices that administer such loans, so, if you're interested,
that's how to begin contacting the people and programs that can help
Here's some more information about the USDA's Business and Industry
Guaranteed Loans program:
For insight on the impact of 9/11 on tourism in these states, see:
"Overview of International Visitation to Louisiana":
The above is a January 14, 2004 report prepared by LaTour (Louisiana
Office of Tourism):
Find more LA tourism reports here:
"The Effects of the Economy and 9/11 on the Travel and Tourism
Industry," a white paper prepared by the Texas Tourism Division,
published on March 7, 2002:
" 'United States Department of Agriculture' AND building OR business
loans AND hotels"
"USDA hotel loan defaults Louisiana"
"USDA hotel loan defaults Texas"
"impact 9/11 Texas tourism"
"impact 9/11 Louisiana tourism"
I hope my research is of help to you. If you have any questions, or
need help navigating any of the above links, please post a "Request
For Clarification," PRIOR to rating my answer.
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