U.S. Small Business Administration & Other Resources

U.S. SMALL BUSINESS ADMINISTRATION RESOURCES:

Please check out the SBA Corona Virus Resource page available for businesses and employers: 

• https://www.sba.gov/page/guidance-businesses-employers-plan-respond-coronavirus-disease-2019-covid-19#section-header-0

SBA Disaster Assistance Loan: 

• https://www.sba.gov/disaster-assistance/coronavirus-covid-19
• Is a direct loan from SBA, with no bank involvement
• SBA’s Office of Disaster Assistance will coordinate with the state’s or territory’s Governor to submit the request for Economic Injury Disaster Loan assistance.
• Once a declaration is made for designated areas within a state, the information on the application process for Economic Injury Disaster Loan assistance will be made available to all affected communities
• Check https://disasterloan.sba.gov/ela/Declarations/Index to see if the business’ location has been declared.  Once it has, SBA will accept new applications for that county/parish/state.
• SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance and can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
• These loans may be used to pay fixed debts, payroll, accounts payable and other bills that can’t be paid because of the disaster’s impact.
• The interest rate is 3.75% for small businesses. The interest rate for non-profits is 2.75%.
• SBA offers loans with long-term repayments in order to keep payments affordable, up to a maximum of 30 years. Terms are determined on a case-by-case basis, based upon each borrower’s ability to repay.
• Businesses will be required to supply their latest business tax return filed. 
• Customers should contact the SBA disaster assistance customer service center for more info.
• Call 1-800-659-2955 (TTY: 1-800-877-8339) or e-mail disastercustomerservice@sba.gov .
  

  Gov. Edwards: All Louisiana Parishes Eligible For COVID-19 Business Aid

SBA works with a number of local partners to counsel, mentor, and train small businesses. The SBA has 68 District Offices, as well as support provided by its Resource Partners, such as SCORE offices, Women’s Business Centers, Small Business Development Centers and Veterans Business Outreach Centers. When faced with a business need, use the SBA’s Local Assistance Directory to locate the office nearest you.BATON ROUGE — 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.  For more info click here.

SBA is working as quickly as possible to deploy resources to businesses in need. 

Louisiana Workforce Commission: