KHOU, Houston, TX

Millions in federal loans post-9/11 given to local businesses

10:50 AM CST on Saturday, February 10, 2007

By Dave Fehling / 11 News

Here on the Gulf Coast, we know how important it is to get help when disaster strikes.

The government often makes grants and loans available after catastrophes like hurricanes.

But why did the federal government use your tax money to guarantee loans for Houston businesses after the terrorist attacks in New York and Washington?

Nearly $100 million got spread around our city…

11 News showed the list to Houston Congressman Ted Poe.

“That’s absurd,” he said. “The loans were specific for people generally in the New York City region and then those in Washington, D.C. Businesses that were directly affected by what happened on 9/11.”

Instead, all over the country all kinds of businesses got the loans.

In our area, the biggest loan, nearly $2 million, went to build a car wash…

[Click through to watch the video.—Caro]