News

04.01.16

SBA, LED Urge Louisiana Businesses To Seek Disaster Assistance

BATON ROUGE, La. – Today, the U.S. Small Business Administration and Louisiana Economic Development encouraged flood-impacted businesses to visit any of the five Business Recovery Centers established after severe storms and flooding struck Louisiana in March.

The centers opened March 23 in Bossier, Ouachita, St. Tammany, Tangipahoa and Washington parishes (see below for exact locations and hours of operation). As of today, the Business Recovery Centers and other SBA sites operating in Louisiana have approved 233 loans totaling more than $11 million in disaster recovery assistance.

“We urge anyone whose business or nonprofit enterprise was harmed by the March storms and floods to visit these Business Recovery Centers,” LED Secretary Don Pierson said. “The centers are now open and providing one-stop assistance. Our partnership with the SBA and the Louisiana Small Business Development Center Network is proving invaluable in helping businesses recover, re-establish their operations and plan for the future.”

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. These loans cover losses that are not fully covered by insurance or other recoveries.

SBA customer service representatives are available at each recovery center to meet individually with business owners and explain how an SBA disaster loan can help finance their recovery. Louisiana Small Business Development Center consultants will provide counseling to help small business owners with a range of recovery issues. Services include assessing business economic injury, evaluating the business’s strength, cash flow projections and a review of all options to ensure each business makes appropriate decisions for its situation.

“These centers are providing a single, one-stop location for businesses to access a variety of specialized help,” SBA Louisiana District Director Mike Ricks said. “No appointment is necessary, and all services are provided free of charge. We can answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application.” 

Business owners may also apply online using SBA’s secure website at https://disasterloan.sba.gov/ela or get help from SBA representatives at any Disaster Recovery Center in Louisiana. Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. For more disaster assistance information, or to download applications, visit http://www.sba.gov/disaster. Completed applications should be mailed to: U.S. Small Business Administration; Processing and Disbursement Center; 14925 Kingsport Road; Fort Worth, TX 76155.

Business Recovery Centers are open at the times and locations below:

Monroe (Ouachita Parish)
University of Louisiana at Monroe
University Advancement Building
3601 DeSiard Street
Monroe, LA 71209
Mondays through Fridays: 8 a.m. to 5 p.m.

Bossier City (Bossier Parish)
Knights of Columbus
5400 E. Texas Street
Bossier City, LA 71111
Mondays and Tuesdays: 9 a.m. to 6 p.m.
Wednesdays: 9 a.m. to 1:30 p.m.
Thursdays and Fridays: 9 a.m. to 6 p.m.

Hammond (Tangipahoa Parish)
Hammond Chamber of Commerce
400 NW Railroad Avenue
Hammond, LA 70401
Mondays through Fridays: 9 a.m. to 4 p.m.

Covington (St. Tammany Parish)
Greater Covington Center
317 North Jefferson Avenue
Covington, LA 70433
Mondays, Wednesdays and Fridays: 9 a.m. to 4 p.m.

Bogalusa (Washington Parish)
YMCA
411 Avenue B
Bogalusa, LA 70427
Tuesdays and Thursdays: 9 a.m. to 4 p.m.