Friday, May 06, 2016
St. John the Baptist Parish - The St. John Parish Grants and Economic Development Departments announced Friday that the Hurricane Isaac Small Business Loan & Grant Program, formed to assist small businesses and non-profit organizations damaged by Hurricane Isaac in St. John, is moving forward to the funding stage.
Approximately 14 businesses in St. John will receive financial assistance in the form of a grant and low interest loan totaling $950,000 to assist with damages suffered as a result of the effects of the storm. This includes funding to purchase equipment, inventory and/or to provide working capital for identified expenses associated with operations and recovery. Applicants that met all of the criteria including existing during Hurricane Isaac, directly suffering from the effects of the storm and proving documented physical and financial losses were accepted.
Today, E & L Construction owners Lester Mitchell and Eric Bourgeois reviewed the terms and conditions with the Parish administrators and South Central Planning & Development (loan liaison) and thus moved to approve funding for the program. The small business loans are scheduled to be distributed in May. Approved applicants should also expect to be contacted by an administrator for a thorough review of paperwork before funding is dispersed.
In the fall of 2015, St. John Parish officials released extensive information regarding the program to businesses and non-profit organizations located within the Parish and also held public town hall meetings to provide additional information.
The purpose of St John the Baptist Parish’s Small Business Grant & Loan Program is to facilitate recovery and to develop viable communities within St. John by expanding economic opportunities. To speak with someone regarding the program or to provide contact information for future updates, please contact the Grants Department at 985-652-9569.