LINCOLN PARISH, La. (KNOE) - Last week, the Small Business Administration announced they would be offering federal disaster loans for Lincoln Parish residents who experienced damage to businesses or personal property during storms between April 24th and 25th.
The Small Business Administration is offering federal loans for people who experienced damage to businesses or personal property during storms between April 24th and 25th. (KNOE) -
Louise Porter with the SBA says they're just setting up their center in Ruston Aug. 13 to help people apply for loans. She says representatives will be able to help people from 8 a.m. to 5 p.m. at Ruston City Hall for the remainder of the week. Porter says they may stay longer if people still need help.
First, they'll come out and do a damage assessment of your property, and Porter says it can take up to 10 days to know if you're approved. If you are approved for a loan, Porter says you do not have to accept it.
And she says if you own rental property, they consider that a business so you'll be eligible for a loan if you still need monetary help rebuilding.
"So it could be your personal property, it could be a vehicle, it could be appliances, or clothing, or items such as that," says Porter. "But it also could be your real estate, maybe it's costing more to rebuild than was anticipated. So if you are approved for a loan and then you realize it's going to cost more, you can put in a request for an increase."
Porter says these loans are only for uncompensated damage and says even if you received money from insurance you could still receive money from an SBA loan.
She says their customer service center number is 1-800-659-2955, and they're open Monday through Friday from 8 a.m. to 8 p.m. ET.