LOUISIANA SMALL BUSINESSES ELIGIBLE TO APPLY FOR ECONOMIC INJURY DISASTER LOANS FROM THE SBA
Kenner Mayor Ben Zahn announced that the administrator of the US Small Business Association has approved Gov. John Bel Edwards’ request for an SBA disaster declaration in Louisiana.
The SBA is offering low-interest federal disaster loans for working capital to Louisiana small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19), according to the agency. SBA assistance is available throughout the state.
According to the SBA, the loans can be used for fixed debts, payroll, accounts payable and other bills that can’t be paid due to the impact from the disaster. Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises that have been financially impacted as a direct result of the Coronavirus emergency since Jan. 31, 2020 may qualify for Economic Injury Disaster Loans of up to $2 million.
The interest rate is 3.75 percent for small businesses and 2.75 percent for private non-profit organizations.
Applicants can apply online, get additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Additional information is available at the SBA’s Customer Service Center at (800) 659-2955 or by email: email@example.com. Individuals who are deaf or hard of hearing can call (800) 877-8339. Completed applications should be mailed to US Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.
The deadline to apply for an Economic Injury Disaster Loan is Dec. 21, 2020. For more information about available SBA resources and services, please visit: SBA.gov/coronavirus. For COVID-19 information from the Louisiana Economic Development Office, go to https://www.opportunitylouisiana.com/ #KennerProud