SBA Approves $1.5M in Disaster Loans for Louisiana Parishes

The Small Business Administration has approved more than $1.5 million in disaster-assistance loans to help residents and businesses of Terrebonne and Lafourche parishes with their recovery from the impact of Hurricane Isaac.

The Courier reports The SBA has approved 47 loans totaling $1.3 million in Lafourche Parish and 15 loans totaling about $281,500 in Terrebonne Parish. Statewide the agency has issued $77.2 million in loans.

The SBA is offering low-interest federal-disaster loans at 1.688 percent for residents, 4 percent for businesses and 3 percent for private, nonprofit organizations.

Spokesman Mark Randle says residents or businesses with Hurricane Isaac losses can apply now, even if they are not sure whether they want or need a loan. There is no cost to apply, but the deadline is Oct. 30.