[StBernard] Phase II Application Period Begins for Business Recovery Grant and Loan Program

[Westley Annis]

Phase II Application Period Begins for Business Recovery Grant and Loan Program

Applications being accepted through July 18

BATON ROUGE, La (June 10, 2008) - Community-based financing intermediary organizations across south Louisiana are accepting applications for Phase II of the Louisiana Business Recovery Grant and Loan Program through Friday, July 18, 2008. The program is designed to support small businesses in 20 parishes recovering from the after-effects of hurricanes Katrina and Rita. State officials have made $80 million available in combination grants and zero-interest loans for recovering businesses in this phase. 

Informational sessions about the program will continue throughout the application period. Business owners are urged to attend informational sessions to ensure their applications are accurate and complete before scheduling an intermediary interview to submit the application. It makes no difference when a complete application is received during the application period.

For more information on the program, interested businesses can visit www.LouisianaForward.com/BRGL <http://www.LouisianaForward.com/BRGL> , or call the program's 24-hour, toll-free helpline at 1.877.610.3533.

LED and LRA officials developed Phase II of the program with extensive input from local business groups, related state agencies and the U.S. Department of Housing and Urban Development. Funds remaining from the first phase of the program were added to monies allocated by the Legislature last year to total the $80 million available for Phase II. 

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 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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