Posted: Jul 19, 2012 7:28 AM
Source: Associated Press
BATON ROUGE - The state of Louisiana is accepting applications for a program offering low-interest loans of up to $5 million to businesses affected by hurricanes Katrina and Rita in 2005.
The state Office of Community Development said in a statement that the loans are designed to address "unmet business recovery needs" and stimulate economy recovery.
Funding for 11 projects already has been approved through the "Project-Based Opportunity Program."
The loans are funded by federal grants from the Department of Housing and Urban Development.