The Small Business Administration is offering a helping hand to area businesses affected by the New Year’s Day truck attack on Bourbon Street.
The SBA’s Economic Injury Disaster Loans (EIDL) program is giving out loans of up to $2 million to businesses and nonprofits in Orleans, Jefferson, Plaquemines, St. Bernard, and St. Tammany parishes. An economic injury assessment will determine how much each business receives.
The loans are payable over 30 years at 4% interest for small businesses, and 3.625% for nonprofit organizations. The loans do not accrue interest, and payments won’t be due until 12 months after the first loan disbursement.
Businesses will need to prove they have an acceptable credit history and are able to repay the loan.
If you need help applying for a loan, you can visit one of the two centers below for in-person support. SBA representatives will be there to answer questions about the loan process, compliance, appropriate insurance coverage requirements, and other criteria.
Business Recovery Center – Palace Cafe (Fourth Floor)
605 Canal Street
Hours: Monday through Friday, 9 a.m. to 5 p.m., Saturday, 11 a.m. to 5 p.m.
Business Recovery Center – New Orleans Public Main Library
Free validated parking at 300 LaSalle Street Garage
219 Loyola Avenue
Hours: Monday through Friday, 10 a.m. to 5 p.m., Saturday, 11 a.m. to 4 p.m.
The centers will be closed Monday, Jan. 20 for Martin Luther King Jr. Day.
You can apply for a loan by going to SBA.gov/disaster or visiting one of their recovery centers. You can also call the SBA Customer Service Center at 800-659-2955 or email disastercustomerservice@sba.gov for more information. If you’re deaf, hard of hearing or have a speech impairment, dial 711 to access telecommunication relay services.
