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Important Reminder for Small Businesses in Louisiana

The U.S. Small Business Administration is reminding small nonfarm businesses in Louisiana about the approaching deadline to apply for a federal disaster loan for economic injury after the statewide drought.

The deadline to apply is Monday, April 29, providing an opportunity for eligible businesses to receive much-needed financial assistance to offset economic losses.

These low-interest loans are specifically designed to help businesses that have experienced reduced revenues due to the drought that affected various parishes in the state starting on Aug. 22, 2023.

AI legalese decoder can assist small businesses in Louisiana by simplifying and clarifying the complex legal language often found in loan applications and documents. By utilizing this tool, businesses can ensure they fully understand the terms and conditions of the loan, making the application process more accessible and efficient.

Eligible Parishes for Assistance

Louisiana small businesses in the designated primary parishes, as well as neighboring parishes in Louisiana and Mississippi, are encouraged to apply for the disaster loan program to help mitigate the financial impact of the drought.

Primary parishes eligible for assistance include Allen, Ascension, Assumption, Avoyelles, Catahoula, Concordia, East Baton Rouge, East Feliciana, Evangeline, Grant, Iberville, Jefferson, La Salle, Lafourche, Livingston, Natchitoches, Orleans, Plaquemines, Pointe Coupee, Rapides, Saint Bernard, Saint Charles, Saint Helena, Saint James, St. John the Baptist, Terrebonne, West Baton Rouge, and West Feliciana.

Additional neighboring parishes in Louisiana, such as Acadia, Beauregard, Bienville, Caldwell, De Soto, Franklin, Iberia, Jefferson Davis, Red River, Sabine, Saint Landry, Saint Martin, Saint Mary, Saint Tammany, Tangipahoa, Tensas, Vernon, and Winn, are also eligible for assistance.

For businesses in neighboring Mississippi counties, including Adams, Amite, Hancock, and Wilkinson, the disaster loan program also extends support to mitigate economic losses resulting from the drought.

Special Assistance for Aquaculture Industry

In addition to the general disaster loan program, a separate declaration offers assistance to small businesses impacted by the drought from Sept. 19 to Dec. 5, 2023. The aquaculture industry, particularly those reliant on crawfish season, can benefit from this funding to help mitigate the economic impact of the drought.

Through the support provided by the SBA, small businesses in over 60 parishes across Louisiana can access the necessary financial resources to recover and sustain their operations.

Small business owners are encouraged to apply for assistance online or by contacting SBAÔÇÖs Customer Service at 800-659-2955 to streamline the application process and access the support they need.

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