Deadline for small businesses affected by flooding to apply for Restore La. loan quickly approaching

Deadline for small businesses affected by flooding to apply for Restore La. loan quickly approaching

(WAFB) - The deadline for small businesses affected by 2016's flooding is quickly approaching.

Governor John Bel Edwards' Office of Community Development wants to remind small business owners that the deadline to apply for a loan through the Restore Louisiana Small Business Program is October 31.

The program offers businesses that were affected by the flooding interest-free, partially forgivable loans ranging from $10,000 to $150,000. Those interested in applying should do so immediately through a participating lender.

Loans can be used for working capital (rent, mortgage, utilities, non-owner employee wages, and inventory) and movable equipment. Construction-related expenses are not eligible, however. Eligibility criteria is available here.

For more about the Restore Louisiana program, click here.

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