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Disaster Press Releases

SBA to Open Business Recovery Centers for Small Businesses Economically Affected by Deepwater BP Oil Spill

SACRAMENTO – The U.S. Small Business Administration will open Business Recovery Centers in six southeastern Louisiana parishes on Monday, May 10. Owners of small businesses that have been affected economically by the Deepwater BP Oil Spill can visit the centers to speak with SBA representatives about their options with respect to the agency’s Economic Injury Disaster Loan program.
The SBA declaration covers the primary Louisiana parishes of Jefferson, Lafourche, Orleans, Plaquemines, St. Bernard and St. Tammany, the neighboring Louisiana parishes of Assumption, St. Charles, St. James, St. John the Baptist, Tangipahoa, Terrebonne and Washington and the neighboring Mississippi counties of Hancock and Pearl River.

SBA Administrator Karen Mills activated the loan program in those jurisdictions on May 5, under the SBA’s authority to offer economic injury assistance in response to a request from Gov. Bobby Jindal the previous day. Mills’ declaration makes SBA’s Economic Injury Disaster Loans (EIDL) available immediately to help meet the financial needs of qualifying small businesses following the oil spill on April 20.

“It is critical that we take every step we can to provide small businesses with resources to make it through this latest crisis so they can continue to drive local economic growth and provide good-paying jobs,” said Administrator Mills. “We will be in Louisiana as long as we are needed and until we get the job done.”

Beginning May 10, SBA customer service representatives will be available at the Business Recovery Centers (BRCs) – sponsored by SBA and Louisiana Economic Development – to meet one-on-one with owners of small businesses that have been affected financially by the Deepwater BP oil spill to answer questions about SBA’s economic injury disaster loan program, issue loan applications, explain the application process, and help each business owner complete their application.

“Affected small businesses in the region will find personalized service on low-interest loans and disaster information at the centers,” said Michael W. Ricks, director of SBA’s Louisiana District Office. “We recognize that some affected businesses may be reluctant to seek a loan to meet their immediate financial needs, but we encourage each business owner to meet personally with a customer service representative to learn how an SBA disaster loan can provide much needed cash flow while waiting for payment of any claims for reimbursement.”

Counselors from Louisiana’s Small Business Development Centers also will also be available at each center and will provide services that include assessing business economic injury, evaluating the business’s strength and cash flow projections, counseling on how to best overcome the effects of the disaster, and most importantly, reviewing options to ensure each business makes decisions that are appropriate for its situation. These counseling services are free.

The BRCs will be open at the following locations, on the days and times indicated. No appointment is necessary.

 

JEFFERSON PARISH
Business Recovery Center
LSBDC Greater New Orleans Region
UNO Jefferson Center
3330 N. Causeway, Suite 422
Metairie, LA 70002
Mondays through Fridays,
8:30 am - 5 pm
JEFFERSON PARISH
Business Recovery Center
Grand Isle Community Center
The Rotary Room
3811 Highway 1
Grand Isle, LA 70358
Mondays through Fridays,
8 am - 5 pm
LAFOURCHE PARISH
Business Recovery Center
South Lafourche Public Library
16241 East Main Street
Cut Off, LA 70345
Mondays through Fridays,
9 am - 6 pm
ORLEANS PARISH
Business Recovery Center
Vietnamese Initiatives in Economic Training
4655 Michoud Boulevard, #D6,
1st Floor
New Orleans, LA 70129
Mondays through Fridays,
8 am - 5 pm
PLAQUEMINES PARISH
Business Recovery Center
St. Patrick’s Church
Family Life Center
28698 Highway 23
Port Sulphur, LA 70083
Mondays through Fridays,
9 am - 5 pm
PLAQUEMINES PARISH
Business Recovery Center
Venice Boat Harbor Office
Tiger Pass Road
Venice, LA 70091
Mondays through Fridays,
9 am - 6 pm
PLAQUEMINES PARISH
Business Recovery Center
at the SEEDCO Financial Southeast Louisiana Fisheries Assistance Center
212 Avenue G
(near Belle Chasse Ferry)
Belle Chasse, LA 70037
Mondays through Fridays,
9 am – 5 pm
ST. BERNARD PARISH
Business Recovery Center
Gulf Coast Bank & Trust Company
1801 East Judge Perez Drive
Chalmette, LA 70043
Mondays through Fridays,
9 am - 4 pm
ST. BERNARD PARISH
Business Recovery Center
7801 Hopedale Highway
(near the Breton Sound Dock & Marina)
Hopedale, LA 70085
Mondays through Fridays,
9 am - 6 pm
ST. TAMMANY PARISH
Business Recovery Center
1330 Bayou Lane
Trailer 102
Corner of Pennsylvania Avenue and Bayou Lane
Slidell, LA 70460
Mondays through Fridays,
8 am - 5 pm
   

 

With the EIDL loans, SBA is offering working capital loans of up to $2 million at an interest rate of 4 percent with terms up to 30 years. The loans may be used by small businesses that are unable to obtain credit elsewhere to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact. These loans can provide vital economic assistance to fishing and fishing-dependent businesses to help overcome the temporary loss of revenue they are experiencing. SBA encourages businesses to also file claims with BP. Borrowers may be required to use any claim payments to help repay these SBA loans.

Understanding the financial challenges many of these business owners currently face, the SBA is also strongly encouraging its participating 7(a) lenders and Certified Development Companies (CDCs) to consider on a case-by-case basis deferment relief for borrowers with SBA-guaranteed 7(a) loans and 504 loans.
Small businesses in the area that are repaying previous SBA disaster loans also may be eligible for a deferment, on a case-by-case basis. For information on seeking a disaster loan deferment, call the SBA’s Disaster Customer Service Center at (800) 659-2955.

Eligible small businesses include small businesses engaged in shrimping, crabbing and oyster fishing in the waters affected by the closure (employees or crew members are not small businesses and are not eligible); small businesses dependent on the catching or sale of shrimp, crabs and oysters, suppliers of fishing gear and fuel; docks, boatyards, processors, wholesalers, shippers, retailers and other small businesses dependent on revenue from fishing, recreational and sports fishing small businesses, and coastal small businesses.

For business owners who are unable to visit a center, they may obtain loan information and application forms by calling SBA’s Customer Service Center at (800) 659-2955, or (800) 877-8339 for the hearing impaired, e-mailing disastercustomerservice@sba.gov, or by visiting SBA’s Web site at www.sba.gov/services/disasterassistance. They may also apply online using the Electronic Loan

Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.

The deadline to apply for these loans is February 7, 2011.

SBA Field Operations Center -West, P.O. Box 419004, Sacramento, CA 95841

Release Number: 
LA 12163–01
Release Date: 
Friday, May 7, 2010
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
Louisiana
Field Operations Center: 
West