SBA tops $1B in disaster assistance loans for Hurricane Ida

Published 12:10 am Saturday, November 13, 2021

LAPLACE — Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA has approved more than $1 billion in federal disaster loans for Louisiana businesses and residents impacted by Hurricane Ida that occurred Aug. 26 ‑ Sept. 3, 2021. According to Garfield, SBA has approved $56,456,600 for businesses and $964,745,200 for residents to help rebuild and recover from this disaster.

“Hurricane Ida left a trail of damage, and the SBA swiftly deployed its disaster teams across eight states to help countless small businesses, nonprofits, and individual residents get the financial support needed to rebuild,” said Administrator Isabella Casillas Guzman. “The SBA continues to scale to ensure disaster-impacted communities can focus on recovery and powering our nation’s economy.”

“SBA’s disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible,” said Garfield. Businesses and residents in Ascension, Assumption, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. Bernard, St. Charles, St. Helena, St. James, St. Martin, St. Mary, St. Tammany, St. John the Baptist, Tangipahoa, Terrebonne, Washington, West Baton Rouge and West Feliciana parishes who sustained damages are encouraged to register prior to the Nov. 29, 2021, deadline with the Federal Emergency Management Agency at www.disasterassistance.gov. “Don’t miss out on any assistance you may be entitled to by not registering for help. You don’t need to wait for your insurance to settle or obtain a contractor’s estimate,” she added.

“In addition, SBA previously announced that SBA customer service representatives and Louisiana Small Business Development Center advisors are available at the following six SBA Business Recovery Centers to meet individually with each business owner and to answer questions about SBA’s disaster loan program, explain the application process and help each business owner complete their electronic loan application,” Garfield continued.

The following business recovery centers are open until further notice.

Business Recovery Centers
LAFOURCHE PARISH

Callais Office Supply

14402 West Main St.

Cut Off, LA  70345

 

Thursday – Friday, 9 a.m. – 4 p.m.

 

LAFOURCHE PARISH

South Louisiana Economic Council

Nicholls State University

322 Audubon Ave.

Thibodaux, LA  70310

Monday – Wednesday, 9 a.m. – 5:30 p.m.

ORLEANS PARISH

New Orleans Regional Black Chamber of Commerce

The Beach at the University of New Orleans

Advanced Technology Center

2021 Lakeshore Drive, Third Floor

New Orleans, LA  70122

Monday – Wednesday, 9 a.m. – 4 p.m.

BY APPOINTMENT ONLY

email FOCWAssistance@SBA.gov with the subject “Appointment Requested”

ST. JOHN THE BAPTIST PARISH

River Region Chamber of Commerce

390 Belle Terre Blvd.

LaPlace, LA  70068

 

 

Monday – Wednesday, 9 a.m. – 5:30 p.m.

TANGIPAHOA PARISH

Southeastern Louisiana Business Center

Small Business Development Center

1514 Martens Drive

Hammond, LA  70401

 

Thursdays – Saturdays, 9 a.m. – 5:30 p.m.

TERREBONNE PARISH

East Houma Public Library

Meeting Room

778 Grand Caillou Road

Houma, LA  70363

Thursdays, 9 a.m. – 5:30 p.m.

Fridays – Saturdays, 9 a.m. – 4:30 p.m.

SBA representatives also continue to meet with business owners and residents at disaster recovery centers located throughout the impacted area.

For a list of locations, or to receive additional disaster assistance information, visit SBA’s website at https://disasterloanassistance.sba.gov/ela/s/disaster-details?recordId=a0et0000008tYqNAAU .

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 to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage. The deadline to apply for economic injury is May 31, 2022.

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 2.855% for businesses, 2%for private nonprofit organizations and 1.563% 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://disasterloanassistance.sba.gov/.  Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov 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.

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.