Coronavirus (COVID-19): Relief options and Additional Resources

Presentation for Businesses Impacted by Tornadoes

Release Date: 
Friday, February 17, 2017
Release Number: 
Michael Ricks (504) 589-2744

NEW ORLEANS –Businesses impacted by the February 7 tornadoes, including home-based businesses, in Orleans Parish are asked to complete this Tornado Business Response Survey to receive ongoing support from the City of New Orleans and our partners.

Low-interest federal disaster loans are now available to businesses affected by the February 7 tornadoes through the U.S. Small Business Administration. 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. SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

Interest rates can be as low as 3.150 percent for businesses, 2.50 percent for private nonprofit organizations and 1.875 percent 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.

To be considered for all forms of disaster assistance, victims must first call the Federal Emergency Management Agency (FEMA) at (800) 621-FEMA (3362) or visit the Disaster Recovery Center located at the East New Orleans Regional Library located at 5641 Read Blvd.

Presentation for Businesses Impacted by Tornadoes

East New Orleans Business Development District, Vietnamese Initiatives in Economic Training (VIET), the Small Business Administration (SBA), and District E Councilmember James Gray’s Office will hold two presentations for businesses impacted by last Tuesday’s tornadoes. The presentation will include information about the SBA’s low-interest rate Disaster Loan program.

.     Saturday, February 18 at 3pm at the East New Orleans Regional Library located at 5641 Read Blvd.

.     Sunday, February 19 at 11am at Mary Queen of Vietnam Church located at 14001 Dwyer Blvd. Interpreters provided.


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About the U.S. Small Business Administration

The U.S. Small Business Administration (SBA) was created in 1953 and since January 13, 2012, has served as a Cabinet-level agency of the federal government to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.  The SBA helps Americans start, build and grow businesses. Through an extensive network of field offices and partnerships with public and private organizations, the SBA delivers its services to people throughout the United States, Puerto Rico, the U.S. Virgin Islands and Guam.