SACRAMENTO, Calif. –
District Director Michael Ricks of the U.S. Small Business Administration’s (SBA) Louisiana Office announced today that SBA has approved more than $16 million in federal disaster loans to help Louisiana businesses and residents impacted by severe storms and flooding that began March 8.
“SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible. Applicants may apply for an SBA disaster loan online at
https://disasterloan.sba.gov/ela
. Don’t miss out on any assistance you may be entitled to by not applying. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate,” he added. The filing deadline to apply for a property damage loan is May 12, 2016.
In addition, SBA representatives are available at the federal-state Disaster Recovery Centers and the SBA Business Recovery Centers throughout the affected areas to explain and answer questions about SBA’s disaster loan program and help business owners and residents apply to SBA. Additional information and details on the location of centers is available by calling (800) 659-2955 or visiting SBA’s website at
.
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. The SBA can also lend additional funds to help business and residents with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses and most private nonprofit organizations of all sizes, SBA offers Economic Injury Disaster Loans (EIDL) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. The deadline to apply for an economic injury loan is Dec. 13, 2016.
Disaster loans up to $200,000 are available to homeowners to repair or replace their damaged or destroyed primary residence. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing
disastercustomerservice@sba.gov
. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information or to download applications, visit
. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.