Southeastern SBDC continues to offer assistance with disaster business loans
Contact: Christina Chapple
3/1/06
HAMMOND – The Southeastern Louisiana University Small Business Development Center is continuing to offer free one-on-one consultations to area businesses applying for Small Business Administration disaster business loans.
SBDC Assistant Director Sandy Summers said federal disaster assistance is available to businesses in declared disaster areas that have suffered physical damage or loss of sales from hurricanes Katrina and Rita.
The Southeastern SBDC along with area business and economic development organizations has conducted 27 disaster assistance workshops and assisted more than 800 business people in developing loans since the August hurricanes.
“Our staff has spent considerable time learning the ‘ins and outs’ of the SBA Disaster Loan application,” Summers said. “We are able to really assist business owners in completing what sometimes can be a very complicated process.”
Consultations with SBDC business advisors are available throughout the north shore by appointment only, Summers said. Individual appointments can be made by contacting the Southeastern SBDC at (985) 549-3831 or sbdc@selu.edu.
Summers said applicants will be asked to provide pertinent information regarding their particular businesses, including federal tax returns, balance sheets, profit and lost statements, a description of damage, and proof of insurance.
The deadline to apply for the physical damage portion of the Disaster Business Loan has been extended to March 21, but Summers said business owners are urged to complete applications as soon as feasible. Deadline for the economic injury portion of the loan is May 29, and the lending limit has been increased from $1.5 million to $10 million.
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