SBA opens virtual recovery centers today

Many small businesses across the country and right here at home are getting more financial help...
Many small businesses across the country and right here at home are getting more financial help all thanks to the Paycheck Protection Program.((Source: KSLA))
Published: Oct. 17, 2020 at 3:18 PM CDT
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LAKE CHARLES, La. (KPLC) - The U.S. Small Business Association has the announced that they are ready to assist Louisiana businesses and residents affected by Hurricane Delta, and they have opened virtual recovery centers on Saturday, Oct. 17.

U.S. Small Business Administration’s Administrator Jovita Carranza announced that Low-interest federal disaster loans are now available to Louisiana businesses and residents as a result of President Trump’s major disaster declaration.

The declaration covers Acadia, Calcasieu, Cameron, Jefferson Davis, and Vermilion parishes as a result of Hurricane Delta.

“SBA is strongly committed to providing Louisiana with the most effective and customer-focused response possible and with access to federal disaster loans to help businesses and residents affected by this disaster,” said Carranza. “Getting our businesses and communities up and running after a disaster is our highest priority at SBA.”

In consideration of the public health concerns due to COVID-19, the SBA has established a Virtual Business Recovery Center on Saturday, Oct. 17, to provide personalized assistance to business owners. In addition, the SBA has also opened a Virtual Disaster Loan Outreach Center to help homeowners and renters. Customer Service Representatives will be available to business owners and individuals to answer questions about SBA’s disaster loan program, explain the application process and help each person complete their electronic loan application.

The Virtual Business Recovery Center and Virtual Disaster Loan Outreach Center are available Monday through Sunday, 8 a.m. to 8 p.m.

Residents can send emails to or call (800) 659-2955.

Businesses of all sizes and private nonprofit organizations may borrow up to $2 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory and other business assets. The SBA can also lend additional funds to businesses and homeowners to help with the cost of improvements to protect, prevent or minimize the same type of disaster damage from occurring in the future.

For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, the SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available to businesses regardless of any property damage.

Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible for up to $40,000 to repair or replace damaged or destroyed personal property.

Interest rates can be as low as 3 percent for businesses, 2.75 percent for private nonprofit organizations and 1.188 percent for homeowners and renters with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

To be considered for all forms of disaster assistance, survivors must first contact the Federal Emergency Management Agency at Applicants may apply online, receive additional disaster assistance information and download applications at Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email for more information on SBA disaster assistance. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX  76155.

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