The City of Shreveport has made $100,000 in CDBG funds available to small, local businesses in the form of $500 micro-loans, which will be forgiven if the business meets basic requirements, such as following state reopening guidelines. The funds can be used to cover the unexpected cost of PPE, disinfectant materials, or as working capital.
Paycheck Protection Program
SBA is currently offering PPPloans until March 31, 2021. President Biden announced program changes to make access to PPP loans more equitable.
Click here to learn more about the PPP.
Economic Injury Disaster Loans and Loan Advance
The U.S. Small Business Administration (SBA) is offering low-interest disaster loans to non-farm businesses of all sizes, private nonprofits,
homeowners and renters in the parishes of Avoyelles, Bienville, Bossier, Caddo, Calcasieu, Catahoula, Claiborne, Concordia, De Soto,
East Baton Rouge, Franklin, Grant, La Salle, Madison, Natchitoches, Ouachita, Rapides, Red River, Richland, Sabine, Webster,
West Carroll &Winn who suffered losses caused by the severe winter storms that occurred February 11 through February 19, 2021. Types
of loans available are:
Individuals and Families:
Homeowners: up to $200,000 to repair or replace real estate damage and up to $40,000 to replace personal property.
Renters: up to $40,000 to repair or replace personal property.
Property Damage: up to $2,000,000 to repair or replace real estate, machinery and equipment, inventory and other assets that were
damaged or destroyed (available to businesses of any size and private, non-profit organizations).
Economic Injury: only for small businesses and most private non-profit organizations suffering adverse financial impacts of the
disaster (with or without property loss), up to $2,000,000 for working capital to help pay obligations until normal
For additional assistance, SBA has established a Virtual Disaster Loan Outreach Center that is open Mondays – Fridays, 8 am to 8 pm EST.
You can contact an SBA customer service representative via email at FOCWAssistance@sba.gov or by phone at 800-659-2955. SBA will
answer specific questions about how a disaster loan may help each survivor recover from the disaster damage and will provide one-on-one
assistance in completing applications for these loans. You can apply online at https://disasterloanassistance.sba.gov.
The Employee Retention Tax Credit For COVID-19 Impacted Employers
The Coronavirus Aid, Relief, and Economic Security (CARES) Act created a new employee retention tax credit for employers who are closed, partially closed, or experiencing significant revenue losses as a result of COVID-19.
For more information, click here.
Small business owners are also advised to call your existing lenders. Your current bank may be able to offer immediate bridge loan assistance or defer existing loan payments for a temporary period of time. Other local lenders may be able to assist as well; we will continue to update the site with new information as soon as it becomes available.