The U.S. Small Business Administration (SBA) has announced federal disaster loans for small businesses and private nonprofit organizations (PNPs) in Louisiana following the mass casualty incident that occurred in New Orleans’ French Quarter on January 1. This decision follows a request from Louisiana Governor Jeff Landry and includes parishes of Jefferson, Orleans, Plaquemines, St. Bernard, and St. Tammany.
Eligible small businesses, small agricultural cooperatives, small aquaculture enterprises, and PNPs that experienced financial losses due to the tragedy can apply for the SBA’s Economic Injury Disaster Loan (EIDL) program. These loans provide working capital for businesses affected by the disaster, even if they did not suffer physical damage.
The loans can be used to cover fixed debts, payroll, accounts payable, and other expenses that could not be met due to the incident. Loan amounts may reach up to $2 million, with interest rates set at 4% for small businesses and 3.625% for PNPs. Loan terms can extend up to 30 years, and payments are deferred for 12 months after the initial disbursement.
“The SBA joins the entire federal family in grieving the lives lost in this horrific attack and praying for those who were injured,” says SBA Administrator Isabel Casillas Guzman. “As New Orleans and the wider community mourn and begin the healing process for this devastating tragedy, the SBA, in collaboration with state and local partners, stands ready to support and help provide disaster assistance to businesses suffering economic impact – including the small businesses that make neighborhoods like the French Quarter so vibrant.”
The SBA has simplified the process for disaster declarations and expanded available financial relief, enabling faster assistance for businesses. Applicants can apply online at SBA.gov/disaster or contact the SBA’s Customer Service Center by calling (800) 659-2955 or emailing disastercustomerservice@sba.gov. Telecommunications relay services are available at 7-1-1 for individuals who are deaf, hard of hearing, or have speech disabilities.
The deadline to apply for EIDL assistance is October 3, 2025.
The SBA’s disaster relief program aims to support businesses in the affected parishes as they work to recover from the financial challenges caused by this tragedy.
Image: Canva
The post originally appeared on following source : Source link