The U.S. Small Business Administration (SBA) has announced that small businesses and private nonprofit organizations in Louisiana can apply for federal disaster loans. This initiative is in response to the request from Governor Jeff Landry, following a tragic mass casualty incident in New Orleans' French Quarter on January 1.

SBA Administrator Isabel Casillas Guzman stated, "The SBA joins the entire federal family in grieving the lives lost in this horrific attack and praying for those who were injured." She added that the SBA, alongside state and local partners, is prepared to provide disaster assistance to affected businesses, including those integral to neighborhoods like the French Quarter.

The Economic Injury Disaster Loan (EIDL) program under this declaration is accessible to eligible small businesses, agricultural cooperatives, aquaculture enterprises, and nonprofits that have experienced financial losses due to the tragedy. These loans address working capital needs even if no physical damage occurred. Funds may cover fixed debts, payroll, accounts payable, and other necessary expenses.

Loan amounts can reach up to $2 million with interest rates set at 4% for small businesses and 3.625% for nonprofits. The repayment terms extend up to 30 years with interest accruing only after 12 months from the first loan disbursement. Loan specifics depend on each applicant's financial status.

Under the Biden-Harris Administration, efforts have been made to simplify disaster declarations and enhance financial relief options through the SBA. This allows quicker provision of affordable disaster loans essential for community recovery nationwide.

Interested parties can apply online at SBA.gov/disaster or seek more information via phone or email through SBA’s Customer Service Center. The deadline for economic injury loan applications is October 3, 2025.

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