The United States Small Business Administration (SBA) has announced that low-interest federal disaster loans are available to Louisiana residents and businessowners affected by the severe weather of March 20-22.


The United States Small Business Administration (SBA) has announced that low-interest federal disaster loans are available to Louisiana residents and businessowners affected by the severe weather of March 20-22.
The assistance is also open to Allen, Beauregard, Calcasieu and Jefferson Davis parishes in Louisiana as well as Newton County, Texas.
A loan outreach center has been opened at the Beauregard Parish Police Jury Administration Building in DeRidder, and is open from 8 a.m. to 4 p.m. Mondays through Fridays through May 24. SBA representatives will be on hand to issue applications as well as answer questions about the disaster loan program.
Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.
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. SBA can also lend additional funds to homeowners and businesses to help with the cost of making improvements that protect, prevent or minimize the same type of disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture, and most private, nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage.
Interest rates can be as low as 1.875 percent for homeowners and renters, three percent for private, nonprofit organizations and 4 percent for businesses, with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Applicants may apply online using the Electronic Loan Application (ELA) via SBA’s secure Web site at https://disasterloan.sba.gov/ela.
Disaster loan information and application forms are also available from SBA’s Customer Service Center by calling (800) 659-2955, e-mailing disastercustomerservice@sba.gov or visiting SBA’s Web site at http://www.sba.gov/services/disasterassistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339.
The filing deadline to return applications for property damage is July 16, 2012. The deadline to return economic injury applications is February 15, 2013.