SBA Approves More Than $10 Million In Louisiana
Release Date: October 26, 2002
Release Number: 1437-90
» More Information on Louisiana Hurricane Lili
Baton Rouge, LA -- The U.S. Small Business Administration (SBA) announced today that more than $10 million in disaster loans has been approved for Louisiana residents and businesses stemming from damages caused by Tropical Storm Isidore and Hurricane Lili that began Sept. 21, 2002.
"As of today, SBA has approved disaster loans for $11,068,200 to homeowners, renters and business owners that suffered losses as a result of the disaster. These loans will help repair residences, replace lost or damaged personal property, help businesses repair physical damage and replenish working capital," said SBA Disaster Area Director Raymond P. Chatham.
SBA's disaster loans are a critical source of economic stimulation in disaster-ravaged communities, helping spur employment and stabilize tax bases. SBA helps homeowners, renters, businesses of all sizes and nonprofit organizations fund repairs and rebuilding efforts, and covers the costs of replacing lost or damaged personal property.
The deadline for submitting applications for physical losses is Dec. 2, 2002. Small business owners interested in applying for economic injury loan assistance may do so until July 3, 2003.
To assist individuals and business owners in completing their loan applications and answer questions about the disaster loan programs, SBA representatives are available at the Disaster Recovery Centers (DRCs) throughout the affected area. Call 800-525-1321 for the DRC nearest you. Persons with damage from the disaster are encouraged to seek assistance by calling 800-621-FEMA or by visiting a DRC.
Last Modified: Tuesday, 22-Apr-2003 15:14:18