Low-interest loans available for August 5 flood victims

Flooding on St Ann in Mid-City submitted by Susan Messer

NEW ORLEANS — The U.S. Small Business Administration (SBA) will offer low-interest federal disaster loans to Louisiana businesses and residents affected by flooding that occurred August 4-6, including August 5 flooding in New Orleans.

Loans are open to businesses of all sizes, most private nonprofit organizations, homeowners, and renters whose property was damaged or destroyed by the flooding. The disaster declaration makes SBA assistance available in Jefferson, Orleans, Plaquemines, St. Bernard and St. Tammany parishes.

Beginning Wednesday, Aug. 23 through Thursday, Sept. 14, SBA representatives will be on hand at the Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application. The center (Mid-City Library, 4140 Canal St. on the second floor in the Long Room) will be open from 10 a.m. until 7 p.m. Monday through Thursday and from 10 a.m. until 5 p.m. on Fridays. The Center will be closed in observance of Labor Day on Monday, Sept. 4.

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 to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

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.

Applicants can apply online, receive additional disaster assistance information and download applications here.   Applicants can also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Individuals who are deaf or hard-of-hearing may call (800) 877-8339. The filing deadline to return applications for property damage is Oct. 23, 2017. The deadline to return economic injury applications is May 22, 2018.

SBA declared a disaster in response to a request received from Gov. John Bel Edwards on Aug. 17, 2017.