On Aug. 25, SBA reported LOU businesses eligible for disaster loans.
SBA reportedEconomic injury disaster loans (EIDLS) for Louisiana small businesses.
Small non-farm businesses in 19 Louisiana parishes, neighboring counties in Texas are eligible to apply for low interest federal disaster loans, due to drought starting Aug. 15.
Qualifying Businesses
Small non-farm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify.
Businesses primarily engaged in farming or ranching are not eligible for disaster loans.
Loan Provisions
Economic Injury Disaster Loans of up to $2 million assist to meet financial obligations and operating expenses which could have been met had the disaster not occurred.
Interest does not begin to accrue until 12 months from the date of the initial disaster loan disbursement; repayment begins 12 mos. from the date of the first disbursement.
Sep. 7, 2023 SBA Loans Availability
On Sep. 7, 2023, SBA reported small nonfarm businesses may apply for disaster loans.
To offset economic loss/reduced revenue, caused by drought beginning Aug. 22, 2023.
US Secretary of Agriculture declared the Louisiana drought disaster on Aug. 28, 2023.
Named primary and neighboring parishes, and Mississippi counties considered eligible.
Noted that the deadline for applicants to apply for economic injury is Apr. 29, 2024.
Sep. 13, 2023 SBA EIDL Availability
On Sep. 13, 2023, SBA reported small nonfarm businesses may apply for federal disaster loans to offset economic loss caused by drought beginning Aug. 29, 2023.
Loans reported to be available to primary Louisiana parishes, neighboring parishes, neighboring Mississippi counties and neighboring Texas counties of Panola and Shelby.
The deadline to apply for economic injury loans is May 6, 2024.
Regulators
SBA
Entity Types
Corp
Reference
PR LA 18157-01, 9/13/2023; PR LA 18128-01, 9/7/2023; PR DISASTER LA 18106-01, 8/25/2023;
