Friday, October 28, 2005

Red Cross Borrowing Funds for Storm Aid

Red Cross Borrowing Funds for Storm Aid: "Red Cross Borrowing Funds for Storm Aid
Loan of $340 Million Comes as Nonprofit Draws New Scrutiny

By Jacqueline L. Salmon and Elizabeth Williamson
Washington Post Staff Writers
Friday, October 28, 2005; Page A01

The American Red Cross said yesterday that its response to hurricanes Katrina and Rita has depleted its Disaster Relief Fund, forcing it to borrow $340 million to cover costs -- the first time in its 124-year history that the charity has sought a loan for disaster relief."

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