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Keep Your Recovery Options Open with Help from SBA

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After you have registered with FEMA, the agency may refer you to the U.S. Small Business Administration (SBA).

Posted: Nov 13, 2020 8:50 AM

BATON ROUGE, La. — After you have registered with FEMA, the agency may refer you to the U.S. Small Business Administration (SBA), our federal partner. SBA offers low-interest disaster loans to Louisiana residents and businesses affected by recent storms. Homeowners and renters who receive an application for an SBA loan should complete the application even if they decide not to take the loan.
If SBA finds applicants ineligible for a disaster loan, they may be referred back to FEMA for potential additional grant assistance. Survivors who have been referred to SBA for low-interest loans and do not apply will not be considered for FEMA’s other needs grants.

SBA Low-interest Disaster Loans
U.S. Small Business Administration Hurricane Disaster Loans are available for Louisiana disaster survivors.
For businesses of any size and certain nonprofits: up to $2 million for property damage.
For small businesses, small businesses engaged in aquaculture and most qualifying nonprofits: up to $2 million for working capital needs even if they had no property damage, with a $2 million maximum loan for any combination of property damage and working capital needs.
For homeowners: up to $200,000 to repair or replace their primary residence.
For homeowners and renters: up to $40,000 to replace personal property, including vehicles.
Businesses and residents can apply online at www.sba.gov/funding-programs/disaster-assistance. For questions and assistance completing an application, call 800-659-2955 or email FOCWAssistance@sba.gov.
The filing deadline to return applications for physical property damage for Hurricane Laura is Nov. 27. The filing deadline for Hurricane Delta is Dec. 16. There is no cost to apply nor any obligation to accept funds if approved.
For the latest information on Hurricane Laura, visit fema.gov/disaster/4559. For the latest information on Hurricane Delta, visit fema.gov/disaster/4570. Or, follow the FEMA Region 6 Twitter account at twitter.com/FEMARegion6.

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