BATON ROUGE, La. (BRPROUD) — The deadline for Louisiana businesses to apply for a Small Business Administration (SBA) federal disaster loan is Monday, Dec. 23. According to the SBA Office of Disaster Recovery and Resilience, the loan is for economic damage caused by severe drought in Louisiana that occurred from Sept. 19 through Dec. 5, 2023. Small nonfarm businesses, agricultural cooperatives, small businesses engaged in aquaculture and most private nonprofit organizations of any size may apply for the Economic Injury Disaster Loan and can get up to $2 million to help meet working capital needs. The interest rate for the loan is 4% for businesses and 2.375% for private nonprofit organizations with terms up to 30 years, according to the release. SBA's Associate Administrator for the Office of Disaster Recovery and Resilience at Francisco Sánchez Jr. said the loans are available in all 64 parishes in Louisiana as well as some counties in Mississippi, Arkansas and Texas. “As communities across the Southeast continue to recover and rebuild after Hurricanes Helene and Milton, the SBA remains focused on its mission to provide support to small businesses to help stabilize local economies, even in the face of diminished disaster funding,” said Administrator Isabel Casillas Guzman. “If your business has sustained physical damage, or you’ve lost inventory, equipment or revenues, the SBA will help you navigate the resources available and work with you at our recovery centers or with our customer service specialists in person and online so you can fully submit your disaster loan application and be ready to receive financial relief as soon as funds are replenished.” Hurricanes, storms cost US $500 billion this year: Analysis Applicants can apply online or call the SBA's Customer Service Center at 800-659-2955 for more information on SBA disaster relief. Latest News Couple charged in ring suspected of stealing $1 million in Lululemon clothes Biden officials, Republicans point fingers over exhausted disaster loans program Deadline for Louisiana businesses to apply for Small Business Administration disaster loan coming up Walmart ordered to pay former truck driver $35M after jury finds fraud claims false First lady receives White House Christmas tree from North Carolina