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LA 16995-04 SBA Tops $15 Million in Disaster Assistance Loans for Louisiana Severe Storms, Tornadoes and Flooding

SACRAMENTO, Calif. – 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 $15 million in federal disaster loans for Louisiana businesses and residents impacted by severe storms, tornadoes and flooding that occurred May 17-21, 2021. According to Garfield, SBA has approved $386,700 for businesses and $15,136,000 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 Garfield. Businesses and residents in Ascension, Calcasieu, East Baton Rouge, Iberville and Lafayette parishes who sustained damages are encouraged to register prior to the Aug. 2, 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.

SBA continues to provide one-on-one assistance to disaster loan applicants at the following locations on the days and times indicated. No appointment is necessary.

CALCASIEU PARISH

Business Recovery Center
Southwest Entrepreneurial and Economic Development (SEED) Center
Willis Noland Conference Center, Third Floor
4310 Ryan St.
Lake Charles, LA  70605

Monday - Friday, 8 a.m. - 5 p.m.

Recovery Service Center
Washington-Marion Magnet High School
Cafeteria room
2802 Pineview St.
Lake Charles, LA  70615

Monday – Friday, 9 a.m. - 4 p.m.

 
In addition, SBA has established a Virtual Business Recovery Center and a Virtual Disaster Loan Outreach Center to help business owners, homeowners and renters.  Customer Service Representatives are available to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application.

Virtual Business Recovery Center and
Virtual Disaster Loan Outreach Center

Monday – Friday  (5 days/week)
8 a.m. – 8 p.m. Eastern Time

FOCWAssistance@sba.gov

(800) 659-2955

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 March 2, 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 2.88 percent for businesses, 2 percent for private nonprofit organizations and 1.625 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://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.

Release Number: 
LA 16995-04
Release Date: 
Thursday, July 22, 2021 - 4:45pm
Contact: 
Richard Jenkins (916) 735-1500
Related State: 
Louisiana
Field Operations Center: 
West