Disaster Assistance

Economic Injury:

for small businesses, small agricultural cooperatives and most private, non-profit organizations of all sizes suffering adverse financial impacts as a result of the disaster, up to $2,000,000 for working capital to help pay obligations until normal operations resume.

SBA customer service representatives will be at the following location to meet with each disaster victim. SBA will answer specific questions about how a disaster loan may help each victim recover from the disaster damage, and will provide one-on-one assistance in completing applications for these loans.

Type of Disaster Loan:

• Economic Injury disaster Loans (EIDLs) - are working capital loans to help small businesses, small agricultural cooperatives and most private, non-profit organizations of all sizes meet their ordinary and necessary financial obligations that cannot be met as a direct result of the disaster. These loans are itended to assist through the disaster recovery period.
• EIDL assistance is available only to entities and their owners who cannot provide for their own recovery from non-government sources, as determined by the U.S. Small Business Administration (SBA).

Credit Requirements:

• Credit History - Applicants must have a credit history aceptable to SBA.
• Repayment - Applicants must show the ability to repay the loan.
• Collateral - Collateral is required for all EIDLs over $5,000. SBA takes real estate as collateral when it is available. SBA will not decline a loan for lack of collateral, but SBA will require the borrower to pledge collateral that is available.

Interest Rate:

• The interest rate is 4.000% for businesses and small agricultural cooperatives without credit available elsewhere.
• The interest rate is 3.000% for non-profit organizations without credit available elsewhere.

Loan Term:

• The law authorizes loan terms up to a maximum of 30 years.
• SBA determines the term of each loan in accordance with the borrower's ability to repay. Based on the financial circumstances of each borrower, SBA determines an appropriate installment payment amount, which in turn determines the actual term.

Loan Amount Limit:

• Economic Injury Disaster Loans (EIDL) - The law limits EIDLs to $2,000,000 for alleviating economic injury caused by the disaster. The actual amount of each loan is limited to the economic injury determined by SBA, less business interruption insurance and other recoveries up to the administrative lending limit. SBA also considers potential contributions that are available from the business and/or its owners(s) or affiliates. If a business is a maor source of employment, SBA has the authority to waive the $2,000,000 statutory limit.

Loan Eligibility Requirements:

• Noncompliance - Applicants who have not complied with the terms of previous loans are not eligible. This includes prior borrowers who did not maintain required flood insuance.

Insurance Requirements:

• To protect each borrower and the Agency, SBA requires borrowers to obtain and maintain appropriate insurance. Borrowers of all secured loans (over $5,000) must purchase and maintain hazard insurance for the life of the loan on the collateral property. By law, borrowers whose collateral property is located in a special flood hazard area must also purchase and maintain flood insurance for the full insurable value of the property for the life of the loan.

For more information, contact SBA Disaster Assistance Customer Service Center at
(800)659-2955 or disastercustomerservice@sba.gov
www.sba.gov/services/disasterassistance

KEY INFORMATION ON GULF OIL SPILL

Below are links to economic analyses, information updates, emergency contact numbers, and volunteer opportunities. Check back to this site regularly, as we will be sharing resources for assistance as they become available.

Economic Impact on the Oil Spill

Economic Impact of the Moratorium and Oil Spill 06/21/ 2010

GNO, Inc. Small Business Economic Impact Survey 05/05/2010
Miller Tabak Asset Management: Economic Impact from BP oil spill

Louisiana Mid Continent Oil & Gas Association: Impact Analysis of Federal Moratorium

Wood Mackenzie: Impact Analysis of Federal Moratorium

Business Assistance

Economic Injury Assistance for Louisiana Businesses

LED Joins Forces With SBA And LSBDC To Assist Small Businesses Impacted By Oil Spill

Links To Information

Get the Latest News on Louisiana Seafood

Up-to-the-minute-news from Nola.com

Latest updates from the Port of New Orleans

Information on the Federal response

Information on the State response

How to Help

Official volunteer hotline established by BP and the federal government: 1.866.448.5816

If you have a boat in Louisiana and want to help with the oil spill response, BP is telling volunteers to contact Vince Mitchell at vince.mitchell@lamor.com or 425-745-8017.

Eyes On The Ground: Report Your Sightings of Oil and Wildlife Here

Emergency Contact

If you would like to report oiled wildlife, spill related damage, or oil on land, please use the following contact numbers:

To report oiled wildlife, please call 1-866-557-1401 and leave a message. Messages will be checked hourly.

To discuss spill related damage, please call 1-800-440-0858.

To report oil on land or for general community and volunteer information, please call 1-866-448-5816.

Resources for Assistance

Updates from the Governor’s Office

Check back to this section soon, as we will be posting resources as they become available.

Resources

BP
BP’s official response page for the Gulf Coast Spill

NOAA
National Oceanic and Atmospheric Administration tracking the Gulf Coast spill

LEAN
LEAN was founded to help Louisiana citizens change the balance of power and challenge the continued economic and ecological destruction that had become institutionalized in Louisiana.

National Audubon Society
The National Audubon Society is recruiting volunteers in the fight to save “ecologically sensitive areas.” Visit their website to fill out a volunteer registration form.

Effect on local ecosystems
Provided by NOAA’s Office of Response and Restoration

CNN
Latest CNN coverage of the Gulf Coast Oil Spill

deepwaterhorizonresponse.com
Disaster Response website for the Gulf of Mexico - Deepwater Horizon Incident

Images
Images of the explosion on April 20^th

OilSpillVolunteers.com
Sign up and assist with the cleanup.

nola.com
Follow the link for a collection of numbers to call for more information, volunteering, and damage claims.

Hotlines

To report injured or oiled wildlife, call 1-866-557-1401. To report spill-related damage, call 1-800-440-0858, and to inquire about volunteering, or to report oil on the shore, call 1-866-448-5816.

The Louisiana Seafood Promotion & Marketing Board is connecting BP with fisherman looking to aid in the cleanup effort. If interested, call 281-366-5511 or e-mail, HorizonSupport@OEGLLC.com.

The Coalition to Restore Coastal Louisiana is looking for volunteers to “fill a variety of needs.” Pre-veterinary students, veterinary technicians, and anyone with HAZWOPER training (Hazardous Waste Operations and Emergency Response Standard) are “strongly encouraged” to register.

While their website says volunteers are not yet needed, Mobile Baykeeper is urging anyone who is interested to call their office at 251-433-4229 or e-mail info@mobilebaykeeper.org

Nonprofits in Action

Catholic Charities Archdiocese of New Orleans
Catholic Charities is on the ground in St. Bernard and Plaquemines Parishes offering food, water, case management, and counseling.

Second Harvest Food Bank
Second Harvest is on the ground providing assistance to residents. Immediate relief to Plaquemines and St. Bernard Parishes is underway, and have already provided hundreds of families with emergency food boxes.