Our Purpose

To aid in the recovery of small businesses affected by one of the following events:

• Hurricane Ida
• Hurricane Laura
• Hurricane Delta
• May 2021 – Flood

Eligibility Requirements

Location

• Business located in a parish impacted by one of the following events:
  • Hurricane Ida
  • Hurricane Laura
  • Hurricane Delta
  • May 2021 – Flood
• Eligible Parishes (HUD MIDs)
  • Business located in a HUD MID and servicing a vulnerable population or providing an essential good or service may be given priority.

Employment

• Minimum of one (1) FTE employee
• No more than fifty (50) FTE employees
• **(FTE = Full-Time Equivalent = 35 hours per week)

Gross Revenue

• Evidence of pre-storm minimum Annual Gross Revenue of $25,000

Operational Status

• Operating at the time of the noted events
• Currently operating or can demonstrate the ability to reopen

**Additional requirements may apply**

Qualifications

$10,000 in Physical Damages as a Result of the Storm / Flood

OR

20% Annual Gross Revenue Decline

Use of Funds (Loan Valuation)

• Monthly rent or mortgage payments
• Monthly wages and benefits
• Monthly utilities payments
• Inventory
• Moveable equipment necessary for recovery of impacted business

Loan Terms

• 0% Interest
• No payments for 6 months
• 7-year loan term
• Loans from $10,000 – $150,000
• An exception may allow up to a maximum award of $250,000
• 40% loan forgiveness
• If borrowers comply with post-closing program requirements, 40% of the loan may be forgiven when 60% of principal is repaid
• No closing or application fees