HANCOCK COUNTY — At meetings scheduled this week and next, the Hancock County Chamber of Commerce will unveil details of a new loan program aimed at encouraging small business recovery and growth.

The $2.5 million forgivable loan for small companies will be made available with federal funds filtered down from the state. The money is part of “ground zero” hurricane recovery funding announced by Gov. Haley Barbour last year.

An initial explanation of the program will occur at a 5:30 p.m. meeting today at the Kiln National Guard Armory, on Kiln-DeLisle Road. Chamber officials will discuss workings of the loan program, as well as other chamber initiatives and member services. This year, the chamber made expanding activities in Kiln and Diamondhead one of its goals.

The loan program will be explained again on July 14 at 8:30 a.m., when the Hancock Community Development Foundation meets at the Leo Seal Community Center, next to Hancock Bank on U.S. 90 in Waveland. More information on both the Kiln and Waveland meetings is available by calling 467-9048.

Chamber President David Holman said the loan program is forgivable under several scenarios that will be explained at the meetings. They involve longevity, building purchases and building rehabilitation. Generally, businesses must operate for a minimum of five years to be eligible for loan forgiveness.

To qualify, businesses must have been impacted by Hurricane Katrina in 2005. In addition, Holman said, “they had to have been in business for six months prior to Katrina.”

The maximum loan amount for the average business is $50,000. But for companies that meet specific guidelines defining “waterfront businesses” that suffered from Katrina, loan limits may run as high as $150,000, Holman said.