Baton Rouge, LA -- The U.S. Small Business Administration (SBA) announced today that over $2 million in disaster loans has been approved to area residents as a result of the recent severe storms and flooding caused by Tropical Storm Allison.
"As of today, SBA has approved disaster loans for $2,032,000 to homeowners, renters and business owners, that suffered losses as a result of the disaster. These loans will help repair residences, replace lost or damaged personal property, help businesses repair physical damage and replenish working capital," said SBA Disaster Area Director, Raymond P. Chatham.
"Since 1990, SBA has invested over $192 million in Louisiana through its disaster loan program. SBA's long standing commitment to assisting disaster victims is evident," Chatham added.
SBA's disaster loans are a critical source of economic stimulation in disaster ravaged communities, helping spur employment and stabilize tax bases. SBA helps homeowners, renters, businesses of all sizes and nonprofit organizations fund repairs and rebuilding efforts, and covers the costs of replacing lost or damaged personal property.
The deadline for submitting applications for physical losses is August 10, 2001. Small business owners interested in applying for Economic Injury loan assistance may do so until March 11, 2002.
To assist individuals and business owners in completing their loan applications and answer questions about the disaster loan programs, SBA representatives are available at Disaster Recovery Centers throughout the affected area; call 1-800-525-0321 for the Center nearest you. Persons with damage from the storms and flooding are encouraged to seek assistance by calling 1-800-462-9029 or by visiting the Disaster Recovery Centers.