Recovery = Resilience The Hurricane Isaac Grant and Loan Program
Town Hall Meetings Eastbank: September 15, 2015 - 6:00 pm The St. John the Baptist Parish Commuinity Center 2900 Highway 51 LaPlace, LA 70068
Westbank: September 16, 2015 - 6:00 pm The St. John the Baptist Parish Westbank Community Center 173 East 3rd Street, Edgard, LA 70049
The application intake period begins September 29, 2015.
Purpose:
Type of Assistance:
The St. John the Baptist Parish Small Business Grant/Loan Program provides CDBG Disaster Recovery financial assistance in the form of a grant and low interest loan to St John the Baptist small businesses that were in existence during Hurricane Isaac and directly suffered from the effects of the storm.
Awards will have two components:
Who Is Eligible: Individual businesses (including for-profit businesses and earned income generators within non-profit organizations) are eligible to apply for funding to purchase moveable equipment, inventory, and up to six months of working capital. Awards will be based on CDBG eligibility and the availability of program funding.
1) 20% will be in the form of a Grant to the qualifying business. 2) 80% will be in the form of a lowinterest loan to be repaid over a standard term of five (5) years. The annual interest rate shall be 1%-4%. Award amounts will range from $10,000 to $100,000 based on the availability of funds.
How is the Award Amount Determined: Unmet Need: Businesses must document physical and fiscal losses. Unmet Need is the difference between the documented loss and the insurance coverage and/or assistance received due to that loss.
Economic
Unreimbursed Expenses Businesses may document expenses that were caused by the disaster but not covered by insurance or assistance programs. While lost profit is not eligible, monetary losses may be calculated into the unmet need/ unreimbursed expense.
Additional Items/New Hires With a goal of making businesses more resilient and more sustainable, business owners may propose new projects, new hires and the purchase of new equipment that give businesses the ability to survive the next disaster.
Visit sjbparish.com/open or call 985-652-9569 for more information.
Development
1801 W. Airline Hwy. LaPlace LA 70068 Phone: (985) 652-9569 • www.sjbparish.com