The US Small Business Administration (SBA) has announced federal disaster loans for small businesses and private nonprofits (PNPs) in Louisiana following the January 1 mass loss of life in New Orleans’ French Quarter. This decision was made after an appeal by the governor of Louisiana. Jeff Landry and Jefferson, Orleans, Plaquemines, St. Bernard and St. Covers Tammany parishes.
Eligible small businesses, small agricultural cooperatives, small aquaculture enterprises, and PNPs that have experienced financial losses due to a disaster can apply for SBA’s Economic Injury Disaster Loan (EIDL) program. These loans provide working capital for disaster-affected businesses, even if they are not physically damaged.
Loans can be used to pay fixed debts, wages, accounts payable and other expenses that cannot be paid due to the event. Loan amounts can be up to $2 million, with interest rates set at 4% for small businesses and 3.625% for PNP. The term of the loan can be extended up to 30 years, and payments are deferred for 12 months after the initial payment.
“SBA joins the entire federal family in grieving the lives lost in this horrific attack and praying for those injured,” said SBA Administrator Isabel Casillas Guzman. “As New Orleans and the wider community mourn and begin the healing process of this devastating tragedy, SBA is ready to work with state and local partners to provide disaster relief to businesses, including small businesses, suffering the economic impact. Make neighborhoods like the French Quarter so vibrant.”
The SBA has simplified the process for disaster declarations and expanded the financial assistance available, allowing businesses to get help more quickly. Applicants may apply online at SBA.gov/disaster or contact SBA’s Customer Service Center by calling (800) 659-2955 or by email at disastercustomerservice@sba.gov. Telecommunication relay services are available at 7-1-1 for individuals who are deaf, hard of hearing, or speech impaired.
The deadline to apply for EIDL aid is 3 October 2025.
The SBA’s disaster assistance program aims to support businesses in affected parishes as they work to recover from the financial hardships caused by this tragedy.
Photo: Canva