SBA Tops $2.5 Million in Disaster Assistance Loans

Targeted News Service (Press Releases)

SACRAMENTO, Calif., April 12 -- The Small Business Administration's Office of Disaster Assistance issued the following news release:

District Director Michael Ricks of the U.S. Small Business Administration's Louisiana District Office announced today that SBA has approved $2,575,300 in federal disaster loans for Louisiana businesses and residents impacted by the severe storms, tornadoes and straight-line winds in Livingston and Orleans parishes that occurred Feb. 7, 2017.

According to Ricks, SBA has approved $524,500 for businesses and $2,050,800 for residents to help rebuild and recover from this disaster.

"SBA's disaster assistance employees are committed to helping businesses and residents rebuild as quickly as possible," said Ricks. Businesses and residents who sustained damages are encouraged to register prior to the April 12 deadline with the Federal Emergency Management Agency by calling the tele-registration number at (800) 621 FEMA (3362) or (800) 462-7585 (TTY) for individuals who are deaf or hard of hearing. "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," he added.

SBA representatives continue to meet with business owners and residents to answer questions about SBA's disaster loan program, explain the application process, help them complete their application and close their approved loans at the following location on the days and times indicated. No appointment is necessary.

ORLEANS PARISH

Disaster Recovery Center

East New Orleans Regional Library

5641 Read Blvd.

New Orleans, LA 70127

Mondays - Fridays, 8:30 a.m. - 5:30 p.m.

Saturdays, 9 a.m. - 2 p.m.

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.

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.

Applicants may apply online using SBA's secure website at https://disasterloan.sba.gov/ela.

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 https://www.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.

The filing deadline to submit applications for property damage is April 12, 2017. The deadline to submit economic injury applications is Nov. 13, 2017.