The U.S. Small Enterprise Administration (SBA) has introduced federal catastrophe loans for small companies and personal nonprofit organizations (PNPs) in Louisiana following the mass casualty incident that occurred in New Orleans’ French Quarter on January 1. This resolution follows a request from Louisiana Governor Jeff Landry and contains parishes of Jefferson, Orleans, Plaquemines, St. Bernard, and St. Tammany.
Eligible small companies, small agricultural cooperatives, small aquaculture enterprises, and PNPs that skilled monetary losses as a result of tragedy can apply for the SBA’s Financial Harm Catastrophe Mortgage (EIDL) program. These loans present working capital for companies affected by the catastrophe, even when they didn’t endure bodily injury.
The loans can be utilized to cowl fastened money owed, payroll, accounts payable, and different bills that might not be met as a result of incident. Mortgage quantities might attain as much as $2 million, with rates of interest set at 4% for small companies and three.625% for PNPs. Mortgage phrases can prolong as much as 30 years, and funds are deferred for 12 months after the preliminary disbursement.
“The SBA joins the complete federal household in grieving the lives misplaced on this horrific assault and praying for individuals who have been injured,” says SBA Administrator Isabel Casillas Guzman. “As New Orleans and the broader neighborhood mourn and start the therapeutic course of for this devastating tragedy, the SBA, in collaboration with state and native companions, stands able to help and assist present catastrophe help to companies struggling financial influence – together with the small companies that make neighborhoods just like the French Quarter so vibrant.”
The SBA has simplified the method for catastrophe declarations and expanded obtainable monetary aid, enabling sooner help for companies. Candidates can apply on-line at SBA.gov/catastrophe or contact the SBA’s Buyer Service Heart by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Telecommunications relay companies can be found at 7-1-1 for people who’re deaf, onerous of listening to, or have speech disabilities.
The deadline to use for EIDL help is October 3, 2025.
The SBA’s catastrophe aid program goals to help companies within the affected parishes as they work to get well from the monetary challenges brought on by this tragedy.
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