LA 16076-02 SBA Disaster Loan Outreach Center to Close in Ruston

SACRAMENTO, Calif. – Director Tanya N. Garfield of the U.S. Small Business Administration’s Disaster Field Operations Center-West announced today that SBA will close its Ruston Disaster Loan Outreach Center at 5 p.m. on Wednesday, Aug. 28.

“SBA opened the center to provide personalized assistance to Louisiana businesses and residents who were affected by the severe storms and tornadoes that occurred April 24-25, 2019. Until the center closes, SBA customer service representatives will continue to be available to meet with businesses and residents to answer their questions, explain SBA’s disaster loan program and close their approved disaster loans,” said Garfield.

Businesses and residents can meet with SBA representatives on the days and times as indicated below. No appointment is necessary.

LINCOLN PARISH
Disaster Loan Outreach Center
Ruston City Hall
Second Floor Courtroom
401 North Trenton St.
Ruston, LA  71270

Mondays – Fridays, 8 a.m. – 5 p.m.

Closes 5 p.m. Wednesday, Aug. 28

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.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, 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 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 4 percent for businesses, 2.75 percent for private nonprofit organizations and 2.063 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.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. 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.

The deadline to apply for property damage is Oct. 7, 2019. The deadline to apply for economic injury is May 8, 2020.

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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.

Release Number: 
LA 16076-02
Release Date: 
Tuesday, August 20, 2019 - 5:00pm
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
Louisiana
Field Operations Center: 
West