U. S. Small Business Administration: NEWS RELEASE

Disaster Field Operations Center West

Release Date: Feb. 25, 2019 Contact: Richard A. Jenkins, (916) 735-1500, Richard.Jenkins@sba.gov

Release Number: LA 15879-01 Follow us on Twitter, Facebook, Blogs & Instagram

SBA Economic Injury Disaster Loans Available to Louisiana Small Businesses

SACRAMENTO, Calif. – Small nonfarm businesses in 36 Louisiana parishes and neighboring counties in Texas are now eligible to apply for low interest federal disaster loans from the U.S. Small Business Administration, announced Director Tanya N. Garfield of SBA’s Disaster Field Operations Center-West. These loans offset economic losses because of reduced revenues caused by rain and flooding in the following primary parishes that occurred Aug. 25 - Nov. 16, 2018.

Primary Louisiana parishes: Acadia, Allen, Ascension, Assumption, Avoyelles, Beauregard, Calcasieu, Cameron, Catahoula, Jefferson Davis, LaFourche, St. Charles, St. James, St. John The Baptist, St. Landry, Terrebonne, and Vermilion;

Neighboring Louisiana parishes: Caldwell, Concordia, East Baton Rouge, Evangeline, Franklin, Iberia, Iberville, Jefferson, LaSalle, Lafayette, Livingston, Pointe Coupee, Rapides, St. Martin, St. Mary, Tangipahoa, Tensas, Vernon and West Feliciana;

Neighboring Texas counties: Jefferson, Newton and Orange.

“SBA eligibility covers both the economic impacts on businesses dependent on farmers and ranchers that have suffered agricultural production losses caused by the disaster and businesses directly impacted by the disaster,” Garfield said.

Small nonfarm businesses, small agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may qualify for Economic Injury Disaster Loans of up to $2 million to help meet financial obligations and operating expenses which could have been met had the disaster not occurred.

“Eligibility for these loans is based on the financial impact of the disaster only and not on any actual property damage. These loans have an interest rate of 3.675 percent for businesses and 2.5 percent for private nonprofit organizations, a maximum term of 30 years and are available to small businesses and most private nonprofits without the financial ability to offset the adverse impact without hardship,” Garfield said.

By law, SBA makes Economic Injury Disaster Loans available when the U.S. Secretary of Agriculture designates an agricultural disaster. The Secretary declared this disaster on Feb. 19, 2019.

Businesses primarily engaged in farming or ranching are not eligible for SBA disaster assistance. Agricultural enterprises should contact the Farm Services Agency about the U.S. Department of Agriculture assistance made available by the Secretary’s declaration.

Applicants may apply online, receive additional disaster assistance information and download applications at https://disasterloan.sba.gov/ela. 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. Individuals who are deaf or hard of hearing may call (800) 877-8339. Completed applications should be mailed to U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX 76155.

The deadline to apply for economic injury is Oct. 21, 2019.

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About the U.S. Small Business Administration

The U.S. Small Business Administration makes the American dream of business ownership a reality. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow or expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

SUNO SURVEY

Researchers from Southern University of New Orleans are seeking local businesses’ input about what programs or assistance have helped business recover quickly in prior flooding events, or what ideas you have that could help your business (or others) return to productivity quickly in future floods. They plan to compile the suggestions to help shape future policies and programs.

Please fill out the questionnaire, scan and email to ktheriot@tpeda.org for submission to SUNO. You are encouraged to add a page for further suggestions.

Houma Main Street Seeks Grant Applicants

The old City Court building in downtown Houma was renovated in 2011 with help from Louisiana Main Street grants.  

Efforts to revitalize downtown Houma could continue this year with the opportunity for restoration grants from Louisiana Main Street.

Each year, the state program offers grants ranging from $2,500 to $10,000 for commercial building and business owners in historic downtown areas. Houma Main Street is once again offering its services to local businesses and property owners downtown who are interested in applying.

“Over the years, Houma Main Street has received nearly $80,000 in redevelopment grant funds from the Louisiana Main Street program, initiating $500,000 in local projects costs, plus associated jobs and economic stimulation,” Houma Main Street Manager Anne Picou said.

To be eligible, a building must be in the historic downtown Houma district and be at least 50 years old. The grants have a 50 percent match with the applicant, meaning that if a project is awarded a $5,000 grant, the business or property owner must also invest $5,000, Picou said.

Only one grant can be awarded for each Main Street district. Once applications are submitted to the Houma Main Street, the organization’s board will choose a project to submit to the state program.

In her 17 years with Houma Main Street, Picou said, the agency has helped secure grants for projects by Fakier Jewelers, the renovation of the former City Court building by Lori Davis, new signage at People’s Drug Store and the renovation of Rubicon Salon.

The grants are intended to preserve the historic character downtown, she said.

For example, if someone submits a project to change the facade of a historic property, that could undermine the outlook or integrity of the building. Instead, Main Street wants to work with business owners to keep the original integrity of the building, while modernizing it for new use, Picou said.

Even a simple sign project can promote economic development, she said.

“The Main Street program totally agrees with signage as a way to do economic development,” she said.

Having a large, attractive sign can draw in business and make a building recognizable.

Years ago, grants could be awarded for as much as $25,000, but budget cuts have reduced funding for the program, Picou said.

In the case of Rubicon Salon, when a tire store abandoned the building to move to a new location, the property left Main Street organizers wondering what to do.

“By grace of god, (Rubicon Salon) turned it into upscale salon,” Picou said. “It’s a genuine project, keeping the essence of historical building ... but still modernizing the inside elements.”

The old City Court building has a similar story. The parish was considering tearing it down and converting it into parking before Davis purchased the property and turn it into a commercial and residential property, Picou said.

“More and more people living downtown,” she said. “I try to explain that to people. Don’t give up.”

Several downtown businesses have already expressed interest in the program, which has become simpler over the years, Picou said.

The application deadline is 1 p.m. June 18. Applications can be obtained by calling Picou at 873-6408.

By Julia Arenstam, Staff Writer, can be reached at 448-7636 orjulia.arenstam@houmatoday.com. Follow her on Twitter at @gingerale214.

APPLICATION PERIOD NOW OPEN FOR CEO ROUNDTABLES

LED program provides platform for small business leaders to work on, rather than in, their businesses

Louisiana Economic Development opened the application period today for CEO Roundtables, a popular peer program through which executives explore business challenges with each other under the guidance of an experienced facilitator. The application period will extend through March 31 for roundtables beginning July 2018.

Launched in 2014 to help established small businesses grow revenue and jobs, LED’s regional CEO Roundtables convene 15 to 18 qualified key decision-makers from the pool of applicant businesses. Participants meet 10 times for peer-to-peer learning, business networking and support in the yearlong program. Collaborative and growth-oriented, the meetings support a trusting environment in which executives explore business and personal solutions that spur business growth.

Your Pie: Craft pizza and beer eatery coming to Houma

A new casual craft pizza and beer restaurant will open in Houma late this summer offering pizza and panini, as well as gelato and craft beer.

Your Pie is set to open Aug. 1 at 1378 W. Tunnel Blvd. Aug. 1, across from the Plantation Inn, but Ricky Reaves, the owner and local entrepreneur, said he’s aiming to open a bit sooner.

Business Dreams become reality for mom

For Nicole Reding, a native of Cut Off, opening a vintage re-sale clothing store in downtown Houma had been a dream she had been working toward for more than two years as she collected inventory at her home and struggled to find a location for her business.