[StBernard] Recovery Centers Open For Businesses Affected By Oil: SBA To Open Centers For Small Businesses After Deepwater BP Spill

[Westley Annis]

Recovery Centers Open For Businesses Affected By Oil

SBA To Open Centers For Small Businesses After Deepwater BP Spill

 

 

The U.S. Small Business Administration will open Business Recovery Centers
in six southeastern Louisiana parishes on Monday, May 10.  Owners of small
businesses that have been affected economically by the Deepwater BP Oil
Spill can visit the centers to speak with SBA representatives about their
options with respect to the agency's Economic Injury Disaster Loan program.

 

The SBA declaration covers the primary Louisiana parishes of Jefferson,
Lafourche, Orleans, Plaquemines, St. Bernard and St. Tammany, the
neighboring Louisiana parishes of Assumption, St. Charles, St. James, St.
John the Baptist, Tangipahoa, Terrebonne and Washington and the neighboring
Mississippi counties of Hancock and Pearl River.

 

SBA Administrator Karen Mills activated the loan program in those
jurisdictions on May 5, under the SBA's authority to offer economic injury
assistance in response to a request from Gov.  Bobby Jindal the previous
day.  Mills' declaration makes SBA's Economic Injury Disaster Loans (EIDL)
available immediately to help meet the financial needs of qualifying small
businesses following the oil spill on April 20.

 

"It is critical that we take every step we can to provide small businesses
with resources to make it through this latest crisis so they can continue to
drive local economic growth and provide good-paying jobs," said
Administrator Mills.  "We will be in Louisiana as long as we are needed and
until we get the job done."

 

Beginning May 10, SBA customer service representatives will be available at
the Business Recovery Centers (BRCs) - sponsored by SBA and Louisiana
Economic Development - to meet one-on-one with owners of small businesses
that have been affected financially by the Deepwater BP oil spill to answer
questions about SBA's economic injury disaster loan program, issue loan
applications, explain the application process, and help each business owner
complete their application.

 

"Affected small businesses in the region will find personalized service on
low-interest loans and disaster information at the centers," said Michael W.
Ricks, director of SBA's Louisiana District Office.  "We recognize that some
affected businesses may be reluctant to seek a loan to meet their immediate
financial needs, but we encourage each business owner to meet personally
with a customer service representative to learn how an SBA disaster loan can
provide much needed cash flow while waiting for payment of any claims for
reimbursement."

 

Counselors from Louisiana's Small Business Development Centers also will
also be available at each center and will provide services that include
assessing business economic injury, evaluating the business's strength and
cash flow projections, counseling on how to best overcome the effects of the
disaster, and most importantly, reviewing options to ensure each business
makes decisions that are appropriate for its situation.  These counseling
services are free.

 

Rebecca Martin, executive director for the St. Bernard Economic Development
Commission, said it is important for all St. Bernard commercial fishermen
affected by the oil spill to visit the SBA centers to speak to a consultant
even if they don't think they want a business loan so they can speak about
the possibility of deferring current SBA loan payments, bridge financing and
to find out what other help is available.

 

The BRCs will be open at the following locations, on the days and times
indicated.  No appointment is necessary.

 

ST. BERNARD PARISH

 

Business Recovery Center Gulf Coast Bank & Trust Company 1801 East Judge
Perez Drive Chalmette, LA 70043 Mondays through Fridays, 9 am - 4 pm

 

Business Recovery Center 7801 Hopedale Highway (near the Breton Sound Dock &
Marina) Hopedale, LA 70085 Mondays through Fridays, 9 am - 6 pm

 

JEFFERSON PARISH

 

Business Recovery Center LSBDC Greater New Orleans Region UNO Jefferson
Center 3330 N.  Causeway, Suite 422 Metairie, LA 70002 Mondays through
Fridays, 8:30 am - 5 pm

 

Business Recovery Center Grand Isle Community Center The Rotary Room 3811
Highway 1 Grand Isle, LA 70358 Mondays through Fridays, 8 am - 5 pm

 

LAFOURCHE PARISH

 

Business Recovery Center South Lafourche Public Library 16241 East Main
Street Cut Off, LA 70345 Mondays through Fridays, 9 am - 6 pm

 

ORLEANS PARISH

 

Business Recovery Center Vietnamese Initiatives in Economic Training 4655
Michoud Boulevard, #D6, 1st Floor New Orleans, LA 70129 Mondays through
Fridays, 8 am - 5 pm

 

PLAQUEMINES PARISH

 

Business Recovery Center St. Patrick's Church Family Life Center 28698
Highway 23 Port Sulphur, LA 70083 Mondays through Fridays, 9 am - 5 pm

 

Business Recovery Center Venice Boat Harbor Office Tiger Pass Road Venice,
LA 70091 Mondays through Fridays, 9 am - 6 pm

 

Business Recovery Center at the SEEDCO Financial Southeast Louisiana
Fisheries Assistance Center 212 Avenue G (near Belle Chasse Ferry) Belle
Chasse, LA 70037 Mondays through Fridays, 9 am - 5 pm

 

ST. TAMMANY PARISH

 

Business Recovery Center 1330 Bayou Lane Trailer 102 Corner of Pennsylvania
Avenue and Bayou Lane Slidell, LA 70460 Mondays through Fridays, 8 am - 5 pm

 

With the EIDL loans, SBA is offering working capital loans of up to $2
million at an interest rate of 4 percent with terms up to 30 years.  The
loans may be used by small businesses that are unable to obtain credit
elsewhere to pay fixed debts, payroll, accounts payable and other bills that
can't be paid because of the disaster's impact.  These loans can provide
vital economic assistance to fishing and fishing-dependent businesses to
help overcome the temporary loss of revenue they are experiencing.  SBA
encourages businesses to also file claims with BP.  Borrowers may be
required to use any claim payments to help repay these SBA loans.

 

Understanding the financial challenges many of these business owners
currently face, the SBA is also strongly encouraging its participating 7(a)
lenders and Certified Development Companies (CDCs) to consider on a
case-by-case basis deferment relief for borrowers with SBA-guaranteed 7(a)
loans and 504 loans.

 

Small businesses in the area that are repaying previous SBA disaster loans
also may be eligible for a deferment, on a case-by-case basis.  For
information on seeking a disaster loan deferment, call the SBA's Disaster
Customer Service Center at (800) 659-2955.

 

Eligible small businesses include small businesses engaged in shrimping,
crabbing and oyster fishing in the waters affected by the closure (employees
or crew members are not small businesses and are not eligible); small
businesses dependent on the catching or sale of shrimp, crabs and oysters,
suppliers of fishing gear and fuel; docks, boatyards, processors,
wholesalers, shippers, retailers and other small businesses dependent on
revenue from fishing, recreational and sports fishing small businesses, and
coastal small businesses.

 

For business owners who are unable to visit a center, they may obtain loan
information and application forms by calling SBA's Customer Service Center
at (800) 659-2955, or (800) 877-8339 for the hearing impaired, e-mailing
disastercustomerservice at sba.gov <mailto:disastercustomerservice at sba.gov> ,
or by visiting SBA's Web site at www.sba.gov/services/disasterassistance
<http://www.sba.gov/services/disasterassistance> .   They may also apply
online using the Electronic Loan Application (ELA) via SBA's secure Web site
at https://disasterloan.sba.gov/ela <https://disasterloan.sba.gov/ela> . 

 

The deadline to apply for these loans is February 7, 2011.  

 

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