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Louisiana Small Business Retention Program

Question asked on January 18, 2007 12:11 AM :: :: Comments (0) :: TrackBacks (1)

The State of Louisiana has committed to $216.5 million dollars to several programs to help small businesses in coastal Louisiana recover from Hurricanes Katrina and Rita.

Louisiana Small Business Retention Program

Governor Blanco, the Louisiana Recovery Authority and Louisiana Economic Development announced a proposal to reallocate $100 million of the economic development disaster recovery programs to provide much-needed grants to small businesses. The additional funds would provide financial relief to sustain and restart small businesses in the most severely impacted areas of Louisiana. Pending final approval of the proposed amendment, the state will determine eligible amounts and expects to begin accepting applications in early January 2007.

This $100 million grant program comes in addition to a $38 million dollar program for 0% interest loans, a $68 million dollar program for loan guarantees, and a $9.5 million general assistance program for small businesses. Collectively, these programs are intended to provide a range of much-needed assistance to small businesses struggling to rebound from last year’s storms. More information about each program can be found below.

Small businesses in the following areas of the state are eligible to apply:

*20 Damaged Parishes
Calcasieu, Cameron, Jefferson, Orleans, Plaquemines, St. Bernard, St. Tammany, Vermilion, Acadia, Allen, Beauregard, Iberia, Jefferson Davis, Lafourche, St. Charles, St. John the Baptist, St. Mary, Tangipahoa, Terrebonne, and Washington

**Most Affected Parishes, Cities/Towns & Zip Codes
Parishes: St. Bernard, Plaquemines, Orleans, Cameron
Cities/Towns: Angie, Slidell, Erath, Lafitte, Folsom, Chauvin, Delcambre, Montegut, Pearl River, Springfield, Madisonville, Gretna, Franklinton
Zip Codes: 70373, 70006, 70461, 70458, 70528, 70463, 70533, 70067, 70464, 70460, 70065, 70397, 70353

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