The Small Business Administration has opened a Disaster Loan Outreach Center in Cecilia on Monday.
Francisco Sánchez Jr., associate administrator for the Office of Disaster Recovery and Resilience at the Small Business Administration, today announced the opening of the center, which is located in the Cecilia Civic Center.
The center is being opened to meet the needs of businesses and individuals who were affected by the severe weather and tornado that occurred May 13. If you want to apply online, check out this story from LCG about the virtual option here.
“SBA customer service representatives will be on hand at the following center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their electronic loan application,” Sánchez continued. The center will be open on the days and times indicated. No appointment is necessary.
ST. MARTIN PARISH
Disaster Loan Outreach Center
Cecilia Civic Center
2464 Cecilia Sr. High School Hwy.
Breaux Bridge, LA 70517
Opens at 12 p.m. Monday, June 24
Mondays - Thursdays, 8 a.m. – 5 p.m.
Friday, June 28, 8 a.m. – 5 p.m.
Friday, July 19, 8 a.m. – 5 p.m.
Closed on Thursday, July 4 for Independence Day
Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. SBA can also lend additional funds to help with the cost of improvements to protect, prevent or minimize disaster damage from occurring in the future.
For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.
SBA disaster loans up to $500,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $100,000 to repair or replace damaged or destroyed personal property, including personal vehicles.
Interest rates can be as low as 4 percent for businesses, 3.25 percent for private nonprofit organizations and 2.688 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.
Interest does not begin to accrue until 12 months from the date of the first disaster loan disbursement. SBA disaster loan repayment begins 12 months from the date of the first disbursement.
Applicants may apply online and receive additional disaster assistance information at SBA.gov/disaster. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. For people who are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services.
The deadline to apply for property damage is Aug. 16, 2024. The deadline to apply for economic injury is March 17, 2025.
