NEW ORLEANS – The U.S. Small Business Administration (SBA) has opened a Disaster Loan Outreach Center in Thibodaux to assist businesses, private nonprofits and residents affected by Tropical Storm Arthur, which brought heavy rainfall and flooding to parts of Louisiana June 17-24.
The center opened Aug. 4 at the Thibodaux Branch Library, 705 W. Fifth St., where SBA representatives are providing in-person assistance and answering questions about disaster loan applications.
Businesses and private nonprofits may apply for physical disaster loans of up to $2 million to repair or replace disaster-damaged or destroyed real estate, machinery and equipment, inventory and other business assets, according to the SBA.
The agency’s Economic Injury Disaster Loan program is also available to eligible small businesses, small agricultural cooperatives and private nonprofit organizations with financial losses directly related to the storm. Those loans may be used for working capital needs, including fixed debts, payroll, accounts payable and other expenses that could not be paid because of the disaster, even if the organization did not sustain physical damage.
Interest rates are as low as 4% for businesses and 3.625% for private nonprofits, with terms of up to 30 years. Interest does not begin to accrue and payments are not due until 12 months after the first loan disbursement. The SBA determines loan amounts and terms based on each applicant’s financial condition.
“When disasters strike, SBA’s Disaster Loan Outreach Centers perform an important role by assisting small businesses and their communities,” said Chris Stallings, associate administrator of the SBA Office of Disaster Recovery and Resilience. “At these centers, our SBA specialists help business owners and residents apply for disaster loans and learn about the full range of programs available to support their recovery.”
Tropical Storm Arthur Impact
Gov. Jeff Landry declared a state of emergency June 18 for six parishes, including Lafourche, after the storm produced flooding and other impacts. The National Weather Service reported 5 to 7 inches of rain had fallen in portions of northwestern Lafourche Parish early June 18, with flash flooding occurring in the area.
The SBA also offers disaster assistance to homeowners and renters. Homeowners may apply for loans of up to $500,000 to repair or replace their primary residence, while homeowners and renters may borrow up to $100,000 to repair or replace personal property, including furniture, vehicles and appliances.
Thibodaux Disaster Loan Outreach Center
The Thibodaux Disaster Loan Outreach Center is open Monday through Friday from 9 a.m. to 5 p.m. Walk-ins are accepted, and appointments may be scheduled in advance at appointment.sba.gov.
Applications are also available online at sba.gov/disaster or by calling the SBA Customer Service Center at (800) 659-2955. The deadline to apply for physical property damage assistance is Aug. 31, while the deadline for Economic Injury Disaster Loan applications is March 30, 2027.
