SACRAMENTO, Calif. – Director Tanya N. Garfield of the U.S. Small Business administration’s Disaster Field Operations Center- West today reminded small nonfarm businesses in 12 Louisiana parishes and eight neighboring Arkansas, Mississippi and
Texas counties of the July 10, 2017, deadline to apply for an SBA federal disaster loan for economic injury. These low-interest loans are to offset economic losses because of reduced revenues caused by severe storms and flooding in the following primary parishes that occurred Aug. 11-31, 2016.
• Primary Louisiana parishes: Bossier, Caddo and Concordia;
• Neighboring Louisiana parishes: Avoyelles, Bienville, Catahoula, De Soto, Pointe Coupee, Red River, Tensas, Webster and West Feliciana;
• Neighboring Arkansas counties: Lafayette and Miller;
• Neighboring Mississippi counties: Adams and Wilkinson;
• Neighboring Texas counties: Cass, Harrison, Marion and Panola.
According to Garfield, small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for Economic Injury Disaster Loans of up to $2 million to help meet working capital needs caused by the disaster. “Economic Injury Disaster Loans may be used to pay fixed debts, payroll, accounts payable and other bills that cannot be paid because of the disaster’s impact,” said Garfield.
“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster. Economic injury assistance is
available regardless of whether the applicant suffered any property damage,” Garfield added.
The interest rate is 4 percent for…
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