BATON ROUGE, La. (KLFY) — Gov. John Bel Edwards says small businesses in all 64 Louisiana parishes can be eligible for useful resource through the federal Small Business Administration (SBA) disaster process.
SBA Administrator Jovita Carranza showed that Louisiana’s greater than 440,000 small business are eligible to apply for low-hobby federal disaster loans, with the intention to be made to be had to eligible companies struggling huge economic injury because of the coronavirus.
COVID-19 is a unique crisis affecting all walks of lifestyles, and meaning Louisiana’s small business network will remain heavily impacted by means of disruptions to their operations’Gov. Edwards said.We are pleased to work with SBA and the federal government in providing this important working capital to our small enterprise owners who’re laid low with the essential measures established due to the coronavirus. Our desire is that these SBA catastrophe loans will be an important part of maintaining their agencies and supplying support to their employees who make up over half of Louisiana’s non-public-sector personnel.
Impacted small groups may also apply for as much as $2 million in running capital to pay for constant debts, payroll, bills payable and different bills which could’t be paid because of the COVID-19 catastrophe. Loan phrases (three.Seventy five percentage interest fee for small agencies; 2.75 percent for nonprofits) may be prolonged as much as 30 years to hold bills lower priced.
To get started immediately, visit SBA.Gov/Disaster. SBA gives a 3-step method for catastrophe loans explained here.