New Orleans, LA – Today, Mayor Mitch Landrieu along with the U.S. Small Business Administration (SBA), Louisiana Department of Economic Development (LED) and the Louisiana Small Business Development Centers (LSBDCs) announced the opening of a Business Recovery Center (BRC) in New Orleans to help local businesses impacted by Hurricane Isaac.
“The success of our local businesses is key to our economy and our city’s successful recovery,” said Mayor Landrieu. “It is essential that we provide them timely and easy access to any and all resources available to help them return to business.”
The New Orleans BRC will be located at the Mayor’s Job1 office at 3400 Tulane in suite 2400 and will be open Mondays and Tuesdays from 8:30am to 5:00pm, starting Monday, September 10. It will serve as a one-stop shop for local businesses to access a variety of specialized assistance. Specialists from the SBA and the LSBDC will be on hand to meet individually with business owners and help walk them through the process as well as offer counsel on recovery and preparation.
BRC services include assessing economic injury, evaluating the business’s strength, cash flow projections and most importantly, a review of all options to ensure each business makes decisions that are appropriate for its situation. They will also provide program information, answer questions and help businesses apply for financial help. No appointment is necessary, and all services are provided free of charge.
Businesses of any size and private, nonprofit organizations can apply to borrow up to $2 million from the SBA to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. These loans cover losses that are not fully covered by insurance or other recoveries.
“I want to commend and thank all our local businesses who worked to return to operation so quickly and I encourage everyone to take advantage of this valuable resource,” said Mayor Landrieu.