Small nonfarm businesses in 12 Louisiana parishes and a neighboring county in Mississippi are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West.
These loans offset economic losses because of reduced revenues caused by drought in the following primary parishes that began March 8, 2022.
Primary Louisiana parishes: St. Bernard and St. John the Baptist; Neighboring Louisiana parishes: Ascension, Jefferson, LaFourche, Livingston, Orleans, Plaquemines, St. Charles, St. James, St. Tammany and Tangipahoa; Neighboring Mississippi county: Hancock.
Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.
By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on May 2, 2022.
Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance.
Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration. However, nurseries are eligible for SBA disaster assistance in drought disasters.
Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloanassistance.sba.gov/.
