BATON ROUGE, La. — Low-interest federal disaster loans are available to Louisiana businesses and residents in the New Orleans area who had flood damage from heavy rains earlier this month.
The state’s emergency preparedness office says the U.S. Small Business Administration authorized the loans for Jefferson, Orleans, Plaquemines, St. Bernard and St. Tammany parishes for flooding Aug. 4-6.
Homeowners can get disaster loans up to $200,000 to repair their homes, while homeowners and renters are eligible for loans up to $40,000 to repair or replace other damaged personal property.
Businesses and nonprofits can borrow up to $2 million to rebuild and to replace machinery and inventory. Certain small businesses and nonprofits also can get disaster loans to help them with cash-flow needs.
More information is available through the SBA website or by calling 800-659-2955.