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SBA Disaster Aid Up to $2mil Now Available to All Parishes

From Greater Iberia Chamber of Commerce, small business loans for impacted businesses are now available.

Impacted small businesses may apply for up to $2 million in working capital to pay for fixed debts, payroll, accounts payable and other bills that can’t be paid because of the COVID-19 disaster. Loan terms (3.75 percent interest rate for small businesses; 2.75 percent for nonprofits) may be extended up to 30 years to keep payments affordable.
From Louisiana Economic Development (LED):

"Today, Gov. John Bel Edwards announced that small businesses in all 64 Louisiana parishes will have access to federal Small Business Administration disaster aid in the wake of the COVID-19 crisis.

SBA Administrator Jovita Carranza confirmed that Louisiana’s more than 440,000 small business are eligible to apply for low-interest federal disaster loans, which will be made available to eligible firms suffering substantial economic injury as a result of the Coronavirus."

Read the full update here >