[StBernard] Business Recovery Grant and Loan Program Award Letters To Go Out Friday

[Westley Annis]

Business Recovery Grant and Loan Program Award Letters To Go Out Friday 

BATON ROUGE, La. (March 28, 2007) -Award letters will be mailed beginning on Friday to the more than 3,600 business owners approved for the initial phase of the Business Recovery Grant and Loan Program.

Recipients are asked to sign and return the acceptance letter outlining terms and conditions as soon as possible. A stamped, addressed envelope will be included to expedite this process.

Upon receipt of the signed acceptance letter, the issuing community-based financial institution will process and mail the award checks. Fifty percent of approved funds will be disbursed immediately, with the remaining fifty percent to be paid 90 days from the initial disbursement.

Letters of denial will also be mailed early next week. Businesses that submitted complete applications but were ineligible for this initial grant phase will be automatically submitted for consideration for the next phase of the program. For additional information and to receive program updates, sign up for Louisiana Economic Development's BusinessWire at LouisianaForward.com.

Hurricanes Katrina and Rita devastated South Louisiana, claiming 1,464 lives, destroying more than 200,000 homes and 18,000 businesses. The Louisiana Recovery Authority (LRA) is the planning and coordinating body that was created in the aftermath of these storms by Governor Kathleen Babineaux Blanco to lead one of the most extensive rebuilding efforts in the world. The LRA is a 33-member body which is coordinating across jurisdictions, supporting community recovery and resurgence, ensuring integrity and effectiveness, and planning for the recovery and rebuilding of Louisiana.

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