Low-interest SBA disaster loans available for renters, homeowners,
businesses and nonprofits
NEW ORLEANS – Today, the City of New Orleans reminded residents and businesses impacted by the August 5 flood in New Orleans about recovery resources available, such as low-interest federal disaster loans from the U.S. Small Business Administration and other types of assistance from non-profit organizations.
Response to Flooding
Following the August 5 flooding, New Orleans Homeland Security and Emergency Preparedness (NOHSEP) conducted damage assessments along with State and Federal officials. Collectively, the City has identified nearly 1,000 reports of damage to homes and businesses as a result of the August 5 flood.
Due to the highly-localized flooding and the differences block-by-block in flooding impacts, city officials along with local recovery partners also conducted individual outreach door-to-door immediately following the flood. The Office of Economic Development also conducted outreach to businesses and hosted business information sessions. In continued support of recovery efforts from this event, the City encourages anyone with questions on debris collection, flood clean-up or available resources to call 311 or visit http://ready.nola.gov/incident/august-flood/recovery/.
According to FEMA, over 698 insurance claims have been filed in New Orleans through its National Flood Insurance Program (NFIP).
SBA Disaster Loan Outreach Center Open until Sept. 14
On August 22, Mayor Landrieu announced that SBA would offer low-interest federal disaster loans to Louisiana businesses and residents affected by flooding that occurred August 4-6, including August 5 flooding in New Orleans. As of August 30, nearly 275 people have visited the SBA Disaster Loan Outreach Center, 163 loan applications have been issued and 106 have been submitted, and three loans have been approved.
Loans are open to businesses of all sizes, most private nonprofit organizations, homeowners, and renters whose property was damaged or destroyed by the flooding and torrential rainfall. For small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size, SBA offers Economic Injury Disaster Loans to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered 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, including vehicles.
Since August 23, SBA representatives have been on hand at the Disaster Loan Outreach Center to answer questions about SBA’s disaster loan program, explain the application process and help each individual complete their application. The Center will remain open until September 14. The center (Mid-City Library, 4140 Canal St. on the second floor in the Long Room) is open from 10 a.m. until 7 p.m. Monday through Thursday and from 10 a.m. until 5 p.m. on Fridays. The Center will be closed in observance of Labor Day on Monday, Sept. 4. No appointment is necessary.
Applicants can apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. Applicants can also call SBA’s Customer Service Center at (800) 659-2955 or email email@example.com for more information on SBA disaster assistance. Individuals who are deaf or hard‑of‑hearing may call (800) 877-8339. The filing deadline to return applications for property damage is Oct. 23, 2017. The deadline to return economic injury applications is May 22, 2018. For more information, read the SBA disaster loan fact sheet in English or Spanish.
SBA declared a disaster in response to a request received from Gov. John Bel Edwards on Aug. 17, 2017. The disaster declaration makes SBA assistance available in Jefferson, Orleans, Plaquemines, St. Bernard and St. Tammany parishes.
To view other recovery resources for those affected by the August 5 flood, visit http://ready.nola.gov/incident/august-flood/recovery/.
Flood Recovery Resource Center
From August 16 to August 19, the City of New Orleans hosted a flood recovery resource center to provide flood-affected residents and businesses additional access to information and resources. The resource center saw nearly 520 individuals across four days. Organizations provided individuals information and resources to help fix flood-damaged homes and businesses; provided legal assistance for tenants facing eviction and to avoid contractor fraud; and help in obtaining Supplemental Nutrition Assistance Program, rental assistance and donated goods.
To view resources still available, visit http://ready.nola.gov/incident/august-flood/recovery/.