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Livingston Parish gets high number of federal loans

7 months 1 week 5 days ago October 10, 2016 Oct 10, 2016 Monday, October 10 2016 October 10, 2016 10:30 PM in News
Source: WBRZ

DENHAM SPRINGS - Livingston Parish has the highest rate of federal loans awarded among parishes affected by the August flood.

According to statistics provided by the Small Business Administration, 3,646 loans have been granted in a parish where 90 percent of structures reportedly flooded. In comparison, East Baton Rouge Parish has only been awarded 1.5 times more loans, but has a population four times greater. 

The loans are meant to help revitalize decimated communities. Damage to businesses specifically has caused sales tax collections to plunge. Denham Springs took a 27 percent hit during the month of August in a city where up to 80 percent of businesses were inundated.

Across South Louisiana, the SBA has approved $901 million in loans, the vast majority to homeowners and renters.

The three parishes granted the most in loans are:

-East Baton Rouge $421,606,700

-Livingston $283,384,400

-Ascension $101,675,500

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