SBA to close Business Recovery Center in Cut Off

The Courier and Daily Comet
·2 min read

The Small Business Administration announced Monday that it will close its Cut Off Business Recovery Center at 4 p.m. on Friday, Dec. 17.

Until the center closes, SBA customer service representatives will continue to meet with business owners to answer questions about SBA’s disaster loan program, explain the application process, help each individual complete their electronic loan application and close their approved loans. No appointment is necessary.

The office is located at Callais Office Supply, 14402 West Main St., Cut Off. It's open Thursday and Friday, and is open from 9 a.m.-4 p.m.

SBA representatives are still available at all the SBA Business Recovery Centers and SBA Disaster Loan Outreach Centers throughout the affected areas to explain SBA’s disaster loan program and help business owners and residents close their approved disaster loans. For a list of locations, or to receive additional disaster assistance information, visit SBA’s website at disasterloanassistance.sba.gov.

Workers clear debris Oct. 1 from a building on Main Street in downtown Houma wrecked by Hurricane Ida. The restaurant next door has reopened.
Workers clear debris Oct. 1 from a building on Main Street in downtown Houma wrecked by Hurricane Ida. The restaurant next door has reopened.

So far, SBA has approved $1,187,507,100 in federal disaster loans for Louisiana businesses and residents.

Even though the deadline to apply for a loan for property damage has passed, small businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size still have until May 31, 2022, to apply for an economic injury disaster loan to help meet working capital needs caused by the disaster. Economic injury assistance is available regardless of whether the business suffered any property damage.

More: FEMA has paid over $200 million to Terrebonne and Lafourche to help with Ida recovery

Interest rates can be as low as 2.855% for businesses and 2% for private nonprofit organizations with terms up to 30 years. Loan amounts and terms are set by SBA and are based on each applicant’s financial condition.

Applicants may apply online, receive additional disaster assistance information and download applications at disasterloanassistance.sba.gov. Applicants may also call SBA’s Customer Service Center at (800) 659-2955 or email disastercustomerservice@sba.gov for more information on SBA disaster assistance. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

This article originally appeared on The Courier: SBA to close Business Recovery Center in Cut Off