The deadline is approaching for small businesses affected by Hurricane Laura to apply for federal disaster loans offered by the U.S. Small Business Administration.
Those business who experienced economic injury due to Hurricane Laura from August 22-27, 2020 have until May 28, 2021 to apply for a loan.
According to SBA Director Tanya N. Garfield, small nonfarm 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,” said Garfield.
Loans are available in these parishes : Acadia, Allen, Avoyelles, Beauregard, Bienville, Bossier, Caddo, Calcasieu, Caldwell, Cameron, Catahoula, Claiborne, De Soto, Evangeline, Grant, Iberia, Jackson, Jefferson Davis, La Salle, Lafayette, Lincoln, Morehouse, Natchitoches, Ouachita, Pointe Coupee, Rapides, Red River, Richland, Sabine, St. Landry, St. Martin, Union, Vermilion, Vernon, West Carroll and Winn.
Loans are also available for business in Arkansas and Texas in the following counties:
- Arkansas counties: Ashley, Chicot, Lafayette, Miller and Union
- Texas counties: Cass, Harrison, Jefferson, Marion, Newton, Orange, Panola, Sabine and Shelby.
The SBA says the loans have an interest of 3 percent for businesses and 2.75 percent 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 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.
Stay in touch with us anytime, anywhere.
To reach the newsroom or report a typo/correction, click HERE.
Sign up for newsletters emailed to your inbox. Select from these options: Breaking News, Evening News Headlines, Latest COVID-19 Headlines, Morning News Headlines, Special Offers