Restore Louisiana Small Business Loan Program
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.
Hurricane Ida & May 2021 Flood | ||
Ascension | Assumption | Calcasieu |
East Baton Rouge | Iberville (70764, 70788) | Jefferson |
Lafourche | Livingston | Orleans |
Plaquemines | St. Bernard | St. Charles |
St. Helena | St. James | St. John the Baptist |
St. Mary | St. Tammany | Tangipahoa |
Terrebonne | Washington | West Baton Rouge (70767) |
Hurricane Laura & Hurricane Delta | ||
Acadia (70526, 70578) | Allen | Beauregard |
Caddo | Calcasieu | Cameron |
Jefferson Davis | Lafayette | Natchitoches |
Ouachita | Rapides | St. Landry (70570) |
St. Martin (70517) | Vermilion (70510) | Vernon (71446) |
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


Funded through the Community Development Block Grant Disaster Recovery Program (CDBG-DR) from the U.S. Department of Housing and Urban Development as eligible under Section 105(a)(15) or 105(a)(17) of the Housing and Community Development Act of 1974 (HCDA).