Federal loans now available to residents of ArkLaTex
SHREVEPORT, La. (KTAL / KMSS) – President Joe Biden announced a major disaster for all of northwest Louisiana on Tuesday. As a result, owners and small business owners can avail of low interest rate loans. “Homeowners can receive up to $ 40,000 for their personal property. For nonprofits, they can receive up to $ 2 million for physical and economic damage, ”said Susheel Kumar, SBA’s public information officer.
Certain counties in Arkansas and Texas are eligible for economic damage assistance only. Shelby, Cass, Marion and Harrison counties in Texas are eligible. Miller, Columbia and Lafayette counties in Arkansas are eligible. “If a business experienced a shortfall due to the winter storm and paid its bills on time before the storm, it may be eligible to recoup some of the losses,” Kumar said.
Marion County Judge Leward LaFleur is very grateful for federal assistance to help businesses. “The SBA works with the citizens of the county. SBA has an office in Jefferson, ”said LaFleur.
Additionally, the county judge is providing assistance to citizens of Marion County as they upload damage assessments to the Texas Department’s Emergency Management Office.
Kumar encourages everyone to apply for the loans even if you decline them. If you are approved for the loans, you will see a payment between three and four weeks. If you are refused, you may be referred to the Assistance for Other Needs Program administered by FEMA.
To begin the registration process, visit: https://www.disasterassistance.gov/ or call 1-800-621-3362.