BATON ROUGE, La (BRPROUD) – Residents in Louisiana who have applied for federal aid may have been referred to the Small Business Administration, but why?
FEMA works with other agencies such as the U.S. Small Business Administration to meet the needs of disaster aid to offer low-interest disaster loans to renters and home-owners that have been affected by a disaster.
A business does not mean to be owned to apply for the disaster loan.
If referred to the SBA, a loan application must be completed and returned in order for it to be considered for a loan, as well as for certain types of FEMA assistance.
If SBA determines a person is not eligible for the loan, FEMA’s Individual and Households program will be the next referral.
According to Louisiana FEMA, 4,39,413 people have had individual assistance applications approved following Hurricane Ida.