BATON ROUGE, La. (WAFB) - The U.S. Small Business Administration (SBA) has approved Governor John Bel Edwards' rqeuest for a disaster declaration for Louisiana business and homeowners impacted by Hurricane Barry.
The declaration makes SBA assistance available in the following parishes: Allen, Assumption, Avoyelles, Beauregard, Catahoula, Concordia, Evangeline, Iberia, Jefferson Davis, La Salle, Pointe Coupee, Rapides, St. Landry, St. Martin, St. Mary, Terrebonne, Vernon and West Feliciana.
Beginning Friday, Sept. 13, SBA representatives will be on-hand at the following outreach centers to answer questions about the disaster loan program, and help people complete their application:
Avoyelles Parish Library - 600 North Main St., Marksville, LA 71351
Opens 8 a.m. Friday, Sept. 13
Mondays - Fridays, 8 a.m. - 5 p.m.
Closes 5 p.m. Thursday, Sept. 26
Businesses and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed property, machinery, and equipment, inventory, and other business assests. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Interest rates can be as low as 4 percent for businesses, 2.75 percent for private nonprofit organizations and 1.938 percent for homeowners and renters 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://disasterloan.sba.gov/ela. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email firstname.lastname@example.org 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.
The deadline to apply for property damage is Nov. 12, 2019. The deadline to apply for economic injury is June 11, 2020.
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