Disaster loan programs reopened to small business owners

Small business owners who missed the initial deadline of the U.S. Small Business Administration’s Economic Injury Disaster Loans have another opportunity to apply.

Small businesses impacted by the 2005 hurricane season have until Dec. 31 to apply for aid, according to SBA administrator Steven Preston.

President George W. Bush signed into law in May a bill authorizing the SBA to offer the loans. In a press release, Preston said the working capital disaster loans have a cap of $1.5 million at a 4 percent interest rate with up to 30-year terms.

Businesses that received EIDL loans during the earlier application period must count those loans toward the overall $1.5 million cap.

Only businesses operating when hurricanes Dennis, Katrina, Rita and William struck are eligible to apply. And the assistance is available only to small businesses to help cover ordinary expenses the company would have been able to handle if the disaster had not occurred.

“The widespread devastation caused by these storms continues to impact the economic recovery of the region,” Preston said. “Small businesses are the solid foundation that will support the revitalization of the Gulf Coast, and these disaster loans will give business owners the capital needed to thrive again.”

Three SBA Disaster Loan Outreach Center and one Disaster Recovery Center are open near the Tri-parish area. Open Monday through Friday from 9 a.m. to 5 p.m., and Saturday from 9 a.m. to 1 p.m., these are located at:

• Orleans Parish: Welcome Home Center, 1250 Poydras St., 14th Floor, New Orleans;

• Jefferson Parish: Gretna Community Center, 1700 Monroe St., Gretna;

• St. Bernard Parish: 8101 West Judge Perez Drive, Chalmette;

• Jefferson Parish: Crescent City Celebration School, 4828 Utica St., Metairie.

To access an application (Form 5) online, visit http://www.sba.gov/services/disasterassistance/basics/howtoapply/index.html. Via e-mail, contact disastercustomerservice@sba.gov. To contact the agency’s Customer Service Center, call (800) 659-2955.