The Restore Louisiana Task Force
is creating federally-funded grant/loan program to small businesses to promote long-term recovery. The latest figures indicate more than $3 billion in economic losses to businesses and agriculture in Louisiana as a result of the flood. As you know, Congress approved an initial $400 million in relief for Louisiana in September and has since approved an additional $1.2 billion. Based on the initial allocation, roughly $12 million so far is proposed by the Task Force to help mostly small businesses. There are three components of the plan: a loan/grant program for non-construction related expenses; technical assistance; and bridge loans backed by the state.
Currently zero interest loan applications with a 20% forgivable portion are being accepted. Criteria for the loan / grant program can be found at the Restore Louisiana Task Force website. View the links below for additional resources:
View Public Presentation Here
Complete State Report Here
Restore Louisiana Facebook Page