The deadline to apply for low-interest loans from the U.S. Small Business Administration (SBA) for businesses and residents affected by the August 2016 flooding in Louisiana is October 13, 2016 (with the deadline for business physical disaster loans now extended to November 14, 2016). Businesses and private nonprofits may be eligible to borrow up to $2 million for real estate, inventory, and business asset replacement or repair. Homeowners may be eligible to borrow up to $200,000 for real estate replacement or repair, and up to $40,000 for damaged or destroyed personal property.
The SBA is offering the following type of disaster loans:
- Home and Personal Property Loans
- Business Physical Disaster Loans
- Economic Injury Disaster Loans
- Military Reservists Economic Injury Loans
Economic injury disaster loans through the SBA have a current deadline of May 15, 2017.
Read more on flood recovery assistance for businesses at the Louisiana Economic Development website.
For more information about the SBA’s disaster assistance programs, visit www.sba.gov/disaster, or call the SBA’s disaster customer service center at 1-800-659-2955.