NEW ORLEANS (WGNO) — The St. Bernard Economic Development Foundation has announced the opening of a small business loan program on Friday, Nov. 10, to assist small businesses and nonprofits affected by disastrous events from 2020 to 2021.
The program is funded by Restore Louisiana.
According to the St. Bernard Economic Development Foundation, the program is partially forgivable, has zero interest rates and assists with non-construction expenses.
The program will consider businesses that meet the following criteria:
- One-50 full-time employees (35 hours or more per week)
- Open and in operation at the time of the disaster event
- Minimum $25,000 in annual gross revenues before the disaster event
- Located in one of the parishes eligible for program participation
- Experienced either a financial or physical loss as a result of one of 2020-21 disaster events
- Have an eligible unmet need after accounting for duplication of benefits
The application deadline is Sunday, Dec. 31.
More information about the program and the loan application can be found on the Restore Louisiana website.
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