Posted: Sep 7, 2011 5:44 AM by Lauren Wilson & AP
GRETNA, La. (AP) - The Jefferson Parish Economic Development Council says it has received a $2 million hurricane recovery grant for loans and technical assistance to parish-based businesses.
JEDCO said Tuesday that it will be able to authorize loans for the purchase of land, buildings, equipment and inventory.
Small businesses can get low-interest loans of up to $500,000. Every business that secures the funding must create at least one new job.
Funding for comes from federal community development block grants for recovery from hurricanes Katrina and Rita.