Louisiana tweaks flood aid program for small businesses
BATON ROUGE - Gov. John Bel Edwards' administration is boosting the size of loans available to small businesses damaged by last year's flooding and extending the deadline for applications.
The Restore Louisiana Small Business Program offers interest-free, partially forgivable loans to businesses harmed by the March and August 2016 floods. Twenty percent of the loan is forgiven when the other 80 percent is repaid.
Under the changes announced Wednesday, the loans now range from $10,000 to $150,000. They previously had ranged from $20,000 to $50,000.
Also, the deadline for submitting loan applications through one of the participating banks and lenders has been extended until Oct. 31.
The program uses recovery dollars provided to Louisiana from Congress. The loans can be used to pay rent, utilities, mortgage, employee wages and some non-construction repair expenses.
Desktop NewsClick to open Continuous News in a sidebar that updates in real-time.
Southern baseball players meet for unofficial practice in Port Allen
Kenan Cooper is first from West Feliciana to swim collegialety
LSU rolls out new turf in Tiger Stadium overnight
LSU Coaches dish on latest with football team
New West Feliciana football coach unsure of when he'll meet his new...