January 23, 2007
Reported by: KPLC Staff
Small business owners affected by Hurricanes Katrina and Rita can start applying for a loan and grant program today with Louisiana's Economic Development Department.
The program will give out grants up to $20,000 and interest-free loans up to $250,000.
The money is available to hurricane-damaged businesses with up to 50 employees who were open six months before the storms and and suffered economic losses as a result of the hurricanes.
Grant proceeds can be used for rent, insurance, utility payments and equipment. Loans can be used for operating expenses and building repairs.
Applications for the grants and loans will be accepted until February 16th.