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LA 13612-01 SBA Offers Disaster Assistance to Louisiana Residents and Businesses Affected by the Severe Weather and Tornadoes

SACRAMENTO, Calif. – Low-interest federal disaster loans are available to Louisiana residents and business owners affected by the severe weather and tornadoes that occurred on May 16, 2103, U. S. Small Business Administration (SBA) Administrator Karen G. Mills announced today.  SBA acted under its own authority to declare a disaster in response to a request SBA received from Gov. Bobby Jindal on June 5, 2013.

The disaster declaration makes SBA assistance available in DeSoto Parish and the neighboring Louisiana parishes of Caddo, Natchitoches, Red River and Sabine; and the neighboring Texas counties of Panola and Shelby.

“The U. S. Small Business Administration is strongly committed to providing Louisiana with the most effective and customer-focused response possible, and we will be there to provide access to federal disaster loans to help finance recovery for residents and businesses affected by the disaster,” said Mills.  “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

“Low-interest federal disaster loans are available to homeowners, renters, businesses of all sizes and private, nonprofit organizations whose property was damaged or destroyed by this disaster,” said SBA’s Louisiana District Director Michael Ricks.  “Beginning Tuesday, June 11, SBA representatives will be on hand at the following Disaster Loan Outreach Center to issue loan applications, answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application,” Ricks continued.  The center will be open on the days and times indicated.  No appointment is necessary.

DeSoto Parish
Disaster Loan Outreach Center
Mission Point Baptist Church
740 Linwood Avenue
Stonewall, LA 71078

Hours: 8 am – 5 pm
Mondays thru Fridays

The center will open Tuesday, June 11 at 8 am

The center will close on Thursday, June 20 at 5 pm

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.

Businesses of any size 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 homeowners and businesses to help 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, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster.  EIDL assistance is available regardless of whether the business suffered any property damage.

Interest rates can be as low as 1.875 percent for homeowners and renters, 2.875 percent for private, nonprofit organizations and 4 percent for businesses, 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 using the Electronic Loan Application (ELA) via SBA’s secure Web site 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, e-mailing disastercustomerservice@sba.gov or visiting SBA’s Web site at http://www.sba.gov/services/disasterassistance.  Individuals who are deaf or hard-of-hearing may call (800) 877-8339. 

The filing deadline to return applications for property damage is August 9, 2013.  The deadline to return economic injury applications is March 10, 2014. 

SBA Field Operations Center - West, P.O. Box 419004, Sacramento, CA 95841
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Release Number: 
LA 13612-01
Release Date: 
Wednesday, June 12, 2013 - 4:00am
Richard Jenkins (916) 735-1500
Related State: 
Field Operations Center: