December 1, 2021

Y M L P-260

Business the wise choice

Ida Aid Business Grants and Loans Obtainable in Several States

Small organizations in the route of Hurricane Ida who experienced damages may well be qualified for grants, financial loans, and fiscal support. The key is to implement as quickly as doable so you can get these resources to get your company up and operating.



Disaster Relief Out there for Firms in Route of Hurricane Ida

The path of destruction Hurricane Ida remaining started out on August 29, when it designed landfall in Louisiana. It then moved to Mississippi prior to heading to the Northeast. There it wreaked havoc in New York and New Jersey as effectively as some counties in Connecticut, Delaware, and Pennsylvania.

When pieces of the states afflicted by Ida get disaster declarations, federal resources can get started flowing in to assist. To date Louisiana, New York, and New Jersey have been given the designation. This will enable persons and enterprises to get started getting federal assistance.

For compact companies, this indicates loans from the Modest Business Administration (SBA) by way of the Financial Injuries Disaster Loans (EIDL). And in some instances, the Neighborhood Improvement Economic Establishments Fund (CDFI Fund) can also assist underserved communities.

Louisiana Firms Eligible for Ida Aid

In Louisiana the declaration covers the following destinations:

Ascension, Assumption, East Baton Rouge, East Feliciana, Iberia, Iberville, Jefferson, Lafourche, Livingston, Orleans, Plaquemines, Pointe Coupee, St. Bernard, St. Charles, St. Helena, St. James, St. John the Baptist, St. Martin, St. Mary, St. Tammany, Tangipahoa, Terrebonne, Washington, West Baton Rouge, and West Feliciana parishes. These parishes are qualified for the two Physical and Economic Personal injury Catastrophe Financial loans from the SBA.

New York Declares Catastrophe Unexpected emergency Pursuing Ida

The declaration in New York handles Bronx, Kings, Queens, Richmond, and Westchester counties. These destinations are eligible for Bodily and Financial Personal injury Catastrophe Financial loans from the SBA.

New Jersey Firms Suitable for Ida Relief

The catastrophe declaration in New Jersey addresses Bergen, Gloucester, Hunterdon, Middlesex, Passaic, and Somerset counties. These counties are eligible for each Physical and Economic Personal injury Catastrophe Financial loans from the SBA.

New Jersey has also proven a $10 million grant program for tiny companies affected by Ida. The grant method tends to make it possible for small organizations and non-profits with up to 50 employees to implement for grants of $1,000 to $5,000 bucks. Landlords and property-dependent companies are not eligible for this grant method.

Adjacent Counties

The subsequent modest companies and most personal nonprofit corporations in the following adjacent counties are qualified to use only for SBA Financial Injuries Disaster Loans.

  • Connecticut – Fairfield
  • Delaware – Bucks, New Castle
  • New Jersey – Atlantic, Camden, Cumberland, Essex, Hudson, Mercer, Monmouth, Morris, Salem, Sussex, Union, and Warren
  • New York – Nassau, Putnam, Orange, Rockland
  • Pennsylvania – Philadelphia

SBA Reaches Out to Companies Influenced by Ida

As a tiny business enterprise or business enterprise of any dimension for that make any difference, the SBA offers financial loans up to $2 million by way of EIDL. This money is for fixing or changing machinery and gear, stock, and other business belongings together with real estate that are damaged or ruined. Moreover, the SBA can also lend more income to enable with the price of increasing, preserving, preventing, and minimizing the very same disaster from taking place in the future. The desire charges for companies can be as very low as 2.855% and 2% for non-public nonprofit corporations.

For owners, catastrophe financial loans up to $200,000 are readily available to repair or replace harmed or wrecked genuine estate. Also, home owners and renters are suitable for up to $40,000 to maintenance or replace ruined or destroyed personal assets. For these loans, the interest fees are 1.563% with phrases up to 30 years.

When making use of for the financial loans, initial you want to make contact with the Federal Unexpected emergency Management Company at www.disasterassistance.gov. You can use on-line as nicely as get supplemental catastrophe guidance information and facts and obtain apps at https://disasterloanassistance.sba.gov/.

If you have to have to talk to the SBA’s Consumer Assistance Centre for information and facts on SBA disaster help, you can simply call (800) 659-2955 or email [email protected]. Deaf or hard-of-hearing people can simply call (800) 877-8339.

Completed apps must be mailed to U.S. Compact Organization Administration, Processing and Disbursement Heart, 14925 Kingsport Street, Fort Worthy of, TX 76155.

You can also go to the U.S. Chamber of Commerce site’s Catastrophe Support Desk for Business to get little business enterprise aid.

Point out Methods

In this article are the hyperlinks to methods for the states most impacted by Hurricane Ida:

Grant Cons

Unhappy as it sounds there are some evil scum bags who acquire edge of individuals when they are down by perpetrating scams in the course of these horrible periods.

The ripoffs usually require obtaining you some grant dollars quickly nonetheless, they will explain to you you ought to pay out a processing rate. Recall you never have to spend for authorities grants and a respectable government agency will not ask you to shell out an state-of-the-art processing charge.

If you get a contact telling you to get a money card for any total to pay out for the processing price of a grant, dangle up. If the company the scammer is boasting to characterize exists, call them and come across out for you.

Graphic: Depositphotos