Louisiana Small Biz: Winter Storms Spark Fed Loan Lifeline!
Published Date: 2/11/2025
Notice
Summary
Big winter storms hit Louisiana in January 2025, causing money troubles for small businesses and farms. The government declared an Economic Injury Disaster, so affected businesses in Louisiana, parts of Mississippi, and Texas can apply for low-interest loans to help them bounce back. You’ve got until November 25, 2025, to apply and get the financial boost you need!
Analyzed Economic Effects
2 provisions identified: 2 benefits, 0 costs, 0 mixed.
EIDLs Available for Jan 2025 Storm
If you own a small business, small agricultural cooperative, or nonprofit in the listed Louisiana parishes (primary: Ascension, Calcasieu, East Baton Rouge, Lafayette, Plaquemines, St. Charles, Tangipahoa, Terrebonne) or the listed contiguous counties in Louisiana, Mississippi (Amite, Pike), or Texas (Newton, Orange), you may apply for an Economic Injury Disaster Loan (EIDL) because of the January 21–24, 2025 winter storm. You can apply online at the MySBA Loan Portal (https://lending.sba.gov). The deadline to apply for EIDL assistance is November 25, 2025.
EIDL Interest Rates Specified
The notice sets the EIDL interest rates for eligible applicants: businesses and small agricultural cooperatives without credit available elsewhere are eligible at a 4.000 percent interest rate, and non-profit organizations without credit available elsewhere are eligible at a 3.625 percent interest rate. These rates apply to loans associated with this disaster declaration (Disaster Number LA-20009 / Economic injury number 209730).
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Key Dates
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