Restore Louisiana Small Business Loan Program
Call 1-800-630-3791 for more information or to schedule an appointment.
Only a limited amount of program funding is still available for businesses impacted by Hurricanes Laura/Delta, so businesses are encouraged to submit their applications as soon as possible to SCPDC. The application portal will close at the end of July 2024, however, at this stage of the process, funding for all applications submitted is not guaranteed. When submitting applications, applicants are strongly encouraged to complete the application document and provide all required documents and signatures as quickly as possible to allow for their timely review.
Applications are no longer being accepted for Hurricane Ida and the May 2021 Severe Storms due to all available funds being obligated.
If additional funds become available, the application portal may be reopened.”
Our Purpose
To aid in the recovery of small businesses affected by one of the following events:
- Hurricane Laura
- Hurricane Delta
Eligibility Requirements
Location
- Business located in a parish impacted by one of the following events:
- Hurricane Laura
- Hurricane Delta
- 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.
*The gold regions on the map indicate areas associated with a closed program.
Hurricane Laura & Hurricane Delta | ||
Acadia | Allen | Beauregard |
Caddo | Calcasieu | Cameron |
Grant | Iberia | Jackson |
Jefferson Davis | Lafayette | La Salle |
Lincoln | Morehouse | Natchitoches |
Ouachita | Rapides | Sabine |
St. Landry | St. Martin | Union |
Vermilion | Vernon | Winn |
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
Location and Hours (Ida and May 2021 Flood – Closed Program) | |
Location | Office Hours |
Marrero DBA Business Center 4657 Westbank EXPY Marrero, LA 70072 |
M – TH: 9:00 am – 4:30 pm F: 9:00 am – 3:30 pm |
Houma 5058 W Main Street Houma, LA 70360 |
M – F: 8:00 am – 4:30 pm |
Location and Hours (Laura and Delta) | |
Location | Office Hours |
Lake Charles SEED Center 4310 Ryan Street Lake Charles, LA 70605 |
M – TH: 9:00 am – 4:00 pm F: 9:00 am – 3:00 pm |
DeRidder 1917 N Pine Street, Suite C DeRidder, LA 70634 |
T & TH: 9:00 am – 4:30 pm |
Jennings Jeff Davis Parish Arts and Technology Center 137 N. Main Street Jennings, LA 70546 |
By appointment |
Grand Lake Library 10200 Gulf Highway Lake Charles, LA 70607 |
By appointment |
Lafayette 208 West Gloria Switch Lafayette, LA 70507 |
M – TH: 9:00 am – 4:00 pm F: 9:00 am – 3:00 pm |
Abbeville 408 Pere Megret Street Abbeville, LA 70510 |
M – TH: 9:00 am – 3:00 pm F: 9:00 am – 3:00 pm |
Alexandria Central Louisiana Regional Chamber of Commerce 118 Third Street Alexandria, LA 71301 |
Wednesday: 10:00 am – 3:00 pm or by appointment |
Natchitoches 450 Second Street Natchitoches, LA 71457 |
By appointment |
Don’t see a nearby office? Call us for assistance. |