Helping Businesses Affected by Flooding - KPLC 7 News, Lake Charles, Louisiana

Helping Businesses Affected by Flooding

(Source: KPLC) (Source: KPLC)
LAKE CHARLES, LA (KPLC) -

Less than a year removed from the 2016 floods, some businesses in Southwest Louisiana are still recovering.

A lifeline is available for those affected.

TruFund, a financial institution, has partnered with the Restore Louisiana Small Business Program.

"These funds come by way of the Federal Government through OCD, which is Office of Community Development at the State level," said Kim Carter-Evans.

Carter-Evans, Communications Director at TruFund, says recipients will be in 51 of Louisiana's 64 Parishes and loans will be offered at zero percent interest.

"Businesses have identified that there is still a gap in the funding that is needed," she says. "One of the things they identified was the need for something that was either a low percent or zero percent. I think a lot of small businesses are not taking advantage of these loans."

"Part of it is because they don't want to take on the additional debt obligation," said Donna Little, director of the Louisiana Small Business Development Center at McNeese State University.

If businesses do participate, they're required to show at least $10,000 in damages or that they have suffered a 20 percent loss of revenue.

"That is the lifeblood of the community," Carter-Evans said. "It's one thing for those national chains to come into a community, but it's another to make sure those locally owned businesses have the ability to get back up and running."

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