Lafourche Parish shows signs of slow return to normalcy
September 16, 2008Southdown Plantation House/The Terrebonne Museum (Houma)
September 18, 2008A regional loan center for businesses affected by Hurricane Gustav has been set up in Thibodaux.
The U.S. Small Business Administration has teamed with the South Louisiana Economic Council to accept and process requests for assistance.
Three categories of SBA loans are available: Home Disaster Loans, Business Physical Disaster Loans and Economic Injury Disaster Loans.
Home Disaster Loans are available to homeowners or renters to repair personal property. The rates range from 2.875 to 5.75 percent.
Business Physical Disaster Loans are available to businesses to repair or replace disaster-damaged property owned by the business including real estate, inventories, supplies, machinery and equipment. Businesses of any size are eligible, including private and non-profit organizations such as charities, churches and private universities.
Economic Injury Disaster Loans are working capital loans to help small businesses, small agricultural cooperatives and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a result of the disaster. A business may borrow up to $2 million for any combination of property damage and personal injury at rates ranging from 4 to 8 percent. Credit and collateral requirements apply.
Businesses are advised to start the application process by calling the SBA at 800-659-2955 or e-mailing diastercustomerservice@sba.gov. Application information is available at www.sba.gov/services/disasterassistance. Hearing-impaired persons may call (800) 877-8339.
The SBA is also operating an office out of the SLEC Business and Technology Center, located at 629 East 1st St. in Thibodaux.
For more information, contact SLEC at (985) 448-4485.
