Small Business Administration Providing Financial Aid to Louisiana Businesses Impacted by New Year's Terror Incident in French Quarter

The U.S. Small Business Administration (SBA) has announced federal disaster loans for small businesses and private nonprofit organizations in Louisiana following a mass casualty incident in New Orleans' French Quarter on January 1.

The SBA's disaster relief program aims to support businesses in the affected parishes as they recover from the financial challenges caused by the tragedy. Applicants can apply for Economic Injury Disaster Loan (EIDL) assistance online at SBA.gov/disaster.

Eligible small businesses, small agricultural cooperatives, small aquaculture enterprises, and private nonprofit organizations that experienced financial losses due to the tragedy can apply for the SBA's EIDL program. The decision to offer disaster loans was made following a request from Louisiana Governor Jeff Landry and includes the parishes of Jefferson, Orleans, Plaquemines, St. Bernard, and St. Tammany.

The SBA Administrator, Isabel Casillas Guzman, expressed condolences for the lives lost in the tragedy and stated that the SBA stands ready to support and help provide disaster assistance to businesses suffering economic impact.

Loan amounts may reach up to $2 million, with interest rates set at 4% for small businesses and 3.625% for private nonprofit organizations. Loan terms can extend up to 30 years, and payments are deferred for 12 months after the initial disbursement.

The SBA's disaster relief program offers working capital to cover fixed debts, payroll, accounts payable, and other expenses that could not be met due to the incident. The SBA, in collaboration with state and local partners, aims to support small businesses that make neighborhoods like the French Quarter vibrant.

Applicants can contact the SBA's Customer Service Center by calling (800) 659-2955 or emailing [email protected]. Telecommunications relay services are available at 7-1-1 for individuals who are deaf, hard of hearing, or have speech disabilities.

The SBA's disaster relief program deadline for EIDL applications is October 3, 2025. The SBA has simplified the process for disaster declarations and expanded available financial relief for faster assistance for businesses.

The EIDL loans provide working capital for businesses affected by the disaster, even if they did not suffer physical damage. The SBA's disaster relief program provides financial assistance to eligible small businesses, private nonprofit organizations, and other entities affected by the tragedy.

Small Business Administration Providing Financial Aid to Louisiana Businesses Impacted by New Year's Terror Incident in French Quarter