SACRAMENTO, Calif. – Director Michael Ricks of the U.S. Small Business Administration’s (SBA) New Orleans District Office today reminded small businesses of the April 29, 2016, deadline to apply for an SBA federal disaster loan for economic injury caused by the Red River flooding in Caddo Parish that occurred May 18 - June 20, 2015.
According to Ricks, 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 (EIDLs) of up to $2 million to help meet working capital needs caused by the disaster. “EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. EIDL assistance is available regardless of whether the applicant suffered any property damage,” Ricks said.
These low-interest federal disaster loans are available in Bossier, Caddo, De Soto and Red River parishes in Louisiana; the neighboring Lafayette and Miller counties in Arkansas; and the neighboring Cass, Harrison, Marion and Panola counties in Texas.
The interest rate is 4 percent for businesses and 2.625 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 using the Electronic Loan Application (ELA) via SBA’s secure website.
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 sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
# # #
SACRAMENTO, Calif. – Director Michael Ricks of the U.S. Small Business Administration’s (SBA) New Orleans District Office today reminded small businesses of the April 29, 2016, deadline to apply for an SBA federal disaster loan for economic injury caused by the Red River flooding in Caddo Parish that occurred May 18 - June 20, 2015.
SACRAMENTO, Calif. –
According to Ricks, 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 (EIDLs) of up to $2 million to help meet working capital needs caused by the disaster. “EIDLs may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact. EIDL assistance is available regardless of whether the applicant suffered any property damage,” Ricks said.
These low-interest federal disaster loans are available in Bossier, Caddo, De Soto and Red River parishes in Louisiana; the neighboring Lafayette and Miller counties in Arkansas; and the neighboring Cass, Harrison, Marion and Panola counties in Texas.
The interest rate is 4 percent for businesses and 2.625 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 using the Electronic Loan Application (ELA) via SBA’s secure website.
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 sba.gov/disaster. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
# # #