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## Alexandria Mayor Jacques Roy Urges Small Businesses to Apply for Recovery Aid

### Deadline Approaching for Small Businesses Affected by Hurricanes Laura and Delta

Alexandria Mayor Jacques Roy is urging small business owners to apply for recovery aid from Hurricanes Laura and Delta in 2020 before the upcoming deadline.

Small business owners have until May 31 to apply for the $50 million in funds allocated by the U.S. Department of Housing and Urban Development. This funding is being administered by the Louisiana Office of Community Development through its Restore Louisiana Small Business Loan Program and South Central Planning and Development Commission.

Cullen Creole, Restore Louisiana Small Business Program director, emphasized the importance of completing the necessary paperwork, as there is still ample room for applications.

The program covers 25 of the hardest-hit areas, including parishes such as Iberville, East Feliciana, Pointe Coupee, West Baton Rouge, and West Feliciana. Eligible business owners in these parishes can receive a 7-year loan with 0% interest, with the potential for 40% forgiveness once 60% of the loan is repaid.

Loans available range from $10,000 to $150,000, with the possibility of going up to $250,000 by approved exception. To be eligible, businesses must have one to 50 full-time employees and have made a minimum of $25,000 in annual gross revenue before the disaster.

Alexandria Mayor Jacques Roy encourages eligible businesses to take advantage of this opportunity, stating, “It’s your money, so come get a piece of it back.”

For more information on eligibility guidelines and to access online applications, visit the provided link.

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AI legalese decoder can assist small business owners in navigating the complex legal language often found in disaster recovery aid programs. By using AI technology, the platform can simplify the eligibility criteria and application process, making it easier for businesses to understand their options and submit their applications in a timely manner. Additionally, AI legalese decoder can provide personalized recommendations based on individual business circumstances, ensuring that each applicant maximizes their chances of receiving the necessary funding.

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