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Deadline approaching in Louisiana for SBA working capital loans due to the severe winter storms

FILE PHOTO: Frost forms on a window in Lawrence, Kan., Wednesday, Jan. 30, 2019. (AP...
FILE PHOTO: Frost forms on a window in Lawrence, Kan., Wednesday, Jan. 30, 2019. (AP Photo/Orlin Wagner)((AP Photo/Orlin Wagner))
Published: Nov. 9, 2021 at 1:51 PM CST
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CENTRAL LOUISIANA (KALB/Press Release) - The U.S. Small Business Administration’s Disaster Field Operations Center is reminding small businesses in Louisiana of the Dec. 9 deadline to apply for an SBA federal disaster loan for economic injury caused by the severe winter storms that occurred Feb. 11-19, 2021.

According to Tanya Garfield, the director of the center assigned to the West division, small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. Economic injury assistance is available regardless of whether the applicant suffered any property damage,” Garfield said.

These low-interest federal disaster loans are available in the parishes and counties below:

Louisiana parishes: Allen, Ascension, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Cameron, Catahoula, Claiborne, Concordia, De Soto, East Baton Rouge, East Carroll, East Feliciana, Evangeline, Franklin, Grant, Iberville, Jackson, Jefferson Davis, La Salle, Lincoln, Livingston, Madison, Morehouse, Natchitoches, Ouachita, Pointe Coupee, Rapides, Red River, Richland, Sabine, Saint Helena, Saint Landry, Tensas, Union, Vernon, Webster, West Baton Rouge, West Carroll, West Feliciana and Winn;

Arkansas counties: Chicot, Columbia, Lafayette, Miller and Union;

Mississippi counties: Adams, Warren and Wilkinson;

Texas counties: Cass, Harrison, Marion, Newton, Orange, Panola, Sabine and Shelby.

The interest is 3% for businesses and 2% for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

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