Restore Louisiana Small Business Loan Program
Call 1-800-630-3791 for more information or to schedule an appointment.
The Restore program has received an extension for Hurricane Laura & Delta applicants. Applicants are strongly encouraged to submit their applications no later than April 30, 2024 to South Central Planning and Development Commission to best guarantee that it can be reviewed, processed, and submitted to the state’s Office of Community Development by the state’s June 30th deadline.
Our Purpose
To aid in the recovery of small businesses affected by one of the following events:
- Hurricane Ida
- Hurricane Laura
- Hurricane Delta
- May 2021 – Flood
Eligibility Requirements
Location
- Business located in a parish impacted by one of the following events:
- Hurricane Ida
- Hurricane Laura
- Hurricane Delta
- May 2021 – Flood
- Eligible Parishes (HUD MIDs)
- Business located in a HUD MID and servicing a vulnerable population or providing an essential good or service may be given priority.
Hurricane Ida & May 2021 Flood | ||
Ascension | Assumption | Calcasieu |
East Baton Rouge | East Feliciana | Iberia |
Iberville | Jefferson | Lafourche |
Livingston | Orleans | Plaquemines |
Point Coupee | St. Bernard | St. Charles |
St. Helena | St. James | St. John the Baptist |
St. Martin | St. Mary | St. Tammany |
Tangipahoa | Terrebonne | Washington |
West Baton Rouge | West Feliciana |
Hurricane Laura & Hurricane Delta | ||
Acadia | Allen | Beauregard |
Caddo | Calcasieu | Cameron |
Grant | Iberia | Jackson |
Jefferson Davis | Lafayette | La Salle |
Lincoln | Morehouse | Natchitoches |
Ouachita | Rapides | Sabine |
St. Landry | St. Martin | Union |
Vermilion | Vernon | Winn |
Employment
- Minimum of one (1) FTE employee
- No more than fifty (50) FTE employees
- **(FTE = Full-Time Equivalent = 35 hours per week)
Gross Revenue
- Evidence of pre-storm minimum Annual Gross Revenue of $25,000
Operational Status
- Operating at the time of the noted events
- Currently operating or can demonstrate the ability to reopen
**Additional requirements may apply**
Qualifications
$10,000 in Physical Damages as a Result of the Storm / Flood
OR
20% Annual Gross Revenue Decline
Use of Funds (Loan Valuation)
- Monthly rent or mortgage payments
- Monthly wages and benefits
- Monthly utilities payments
- Inventory
- Moveable equipment necessary for recovery of impacted business
Loan Terms
- 0% Interest
- No payments for 6 months
- 7-year loan term
- Loans from $10,000 – $150,000
- An exception may allow up to a maximum award of $250,000
- 40% loan forgiveness
- If borrowers comply with post-closing program requirements, 40% of the loan may be forgiven when 60% of principal is repaid
- No closing or application fees
Location and Hours (Ida and May 2021 Flood) | |
Location | Office Hours |
New Orleans University of New Orleans “The Beach” 2021 Lakeshore Drive, Suite 207 New Orleans, LA 70122 |
M – TH: 7:00 am – 4:30 pm F: 7:00 am – 3:30 pm |
Marrero DBA Business Center 4657 Westbank EXPY Marrero, LA 70072 |
M – TH: 9:00 am – 4:30 pm F: 9:00 am – 3:30 pm |
Chalmette 100 Port Boulevard, Suite 210 Chalmette, LA 70043 |
M – TH: 8:00 am – 3:00 pm F: Closed |
Kenner 2200 Veterans Memorial, Suite 200 Kenner, LA 70062 |
M – TH: 8:00 am – 4:00 PM F: 8:00 am – 3:00 pm |
Hammond Southeastern Louisiana University Business Center 1514 Martens Drive Hammond, LA 70401 |
M – TH: 8:00 am – 4:00 pm F: 9:00 am – noon |
Baton Rouge 14734 South Harrell’s Ferry Road Baton Rouge, LA 70816 |
M – TH: 8:00 am – 4:00 pm F: Closed |
Houma 5058 W Main Street Houma, LA 70360 |
M – F: 8:00 am – 4:30 pm |
Reserve (Laplace) River Parish Community College 181 Regala Park Road Reserve, LA 70084 (Enter on side of building facing Airline Hwy) |
M – F: 9:00 am – 4:00 pm |
Boutte River Parish Community College United Way of St. Charles Campus 13145 Hwy 90 Boutte, LA 70039 (Building is set back in large parking lot) |
M: 10:00 am – 5:00 pm
T – W: 1:00 pm – 5:00 pm TH: Closed F: 9:00 am – 5:00 pm |
Galliano Lafourche Plaza Shopping Center 18210 West Main St., Suite 5 Galliano, LA 70354 |
M – F: 9:00 am – 4:00 pm |
Location and Hours (Laura and Delta) | |
Location | Office Hours |
Lake Charles SEED Center 4310 Ryan Street Lake Charles, LA 70605 |
M – TH: 9:00 am – 4:00 pm F: 9:00 am – 3:00 pm |
DeRidder 1917 N Pine Street, Suite C DeRidder, LA 70634 |
T & TH: 9:00 am – 4:30 pm |
Jennings Jeff Davis Parish Arts and Technology Center 137 N. Main Street Jennings, LA 70546 |
By appointment |
Grand Lake Library 10200 Gulf Highway Lake Charles, LA 70607 |
By appointment |
Lafayette 208 West Gloria Switch Lafayette, LA 70507 |
M – TH: 9:00 am – 4:00 pm F: 9:00 am – 3:00 pm |
Abbeville 408 Pere Megret Street Abbeville, LA 70510 |
M – TH: 9:00 am – 3:00 pm F: 9:00 am – 3:00 pm |
Alexandria Central Louisiana Regional Chamber of Commerce 118 Third Street Alexandria, LA 71301 |
By appointment |
Natchitoches 450 Second Street Natchitoches, LA 71457 |
By appointment |
Don’t see a nearby office? Call us for assistance. |