Hurricane Ida Aid To Small Businesses Surpasses $ 1 Billion | New
WASHINGTON – U.S. Small Business Administration Administrator Isabella Casillas Guzman today announced that the agency has provided more than $ 1 billion in relief funds to small businesses, homeowners, tenants and to private non-profit organizations recovering from the damage caused by Hurricane Ida in September.
“Hurricane Ida left a trail of damage, and the SBA quickly deployed its relief teams to seven states to help countless small businesses, nonprofits and individual residents get the financial backing needed to rebuild.” , said Administrator Guzman. “The SBA continues to expand to ensure that disaster-affected communities can focus on restoring and fueling our nation’s economy. “
As of October 25, the SBA’s Office of Disaster Assistance (ODA) had approved more than 20,600 low-interest disaster loans, providing combined $ 1 billion in financial assistance to areas affected by Hurricane Ida. The SBA is processing requests quickly and will continue to work to meet the needs of all those affected by this disaster.
Businesses, landlords, tenants, and private non-profit organizations in 67 counties and parishes in Georgia, Louisiana, Maryland, Mississippi, New Jersey, New York, and Pennsylvania are eligible to apply low interest disaster loans to help repair the physical damage caused by Hurricane Ida. The deadline for residents of Louisiana affected by Hurricane Ida to apply for financial assistance is October 28, 2021. Those who have not yet requested assistance are encouraged to apply as soon as possible.
The SBA’s Disaster Loan Program is the only federal assistance program that provides private homeowners with an affordable way to protect their homes, families, businesses, employees, and livelihoods from the next disaster. The funds received from these loans can be used by homeowners to build back better, stronger and more resilient. Owners of private property affected by natural disasters, such as Hurricane Ida, are eligible for up to 20% of their total physical losses, as verified by the SBA, to incorporate protective measures to protect them against the next disaster.