SBA Administrator offers economic aid to Louisiana small businesses affected by oil spillMay 7th, 2010 - 12:29 am ICT by BNO News
WASHINGTON D.C. (BNO NEWS) – Small Business Administration will offer low-interest loans to Louisiana small businesses which suffered financial losses due to the April 20 oil spill, SBA Administrator Karen Mills announced on Thursday.
The Deepwater BP oil spill shut down commercial and recreational fishing along Louisiana’s southeast Gulf coast. Louisiana Governor Jindal requested economic assistance on May 4. Mills responded by signing the declaration making SBA’s Economic Injury Disaster Loans (EIDL) available for qualifying businesses.
“With the region still recovering from previous devastation and the national recession of the last couple years, it’s critical that we take every step we can to provide small businesses with resources to make it through this latest crisis so they can continue to drive local economic growth and provide good-paying jobs,” Mills said.
The SBA is offering loans of up to $2 million at an interest rate of 4 percent with terms up to 30 years. These loans will provide vital aid to fishing and fishing-related businesses. Qualifying businesses include small businesses engaged in shrimping, crabbing and oyster fishing in the waters affected by the closure; suppliers of fishing gear and fuel; docks, boatyards, processors, wholesalers, shippers, retailers and other small businesses dependent on revenue from fishing.
- Louisiana reopens shrimping zone unaffected by the Gulf oil spill - May 29, 2010
- President Obama to sign Small Business Jobs Act - Sep 27, 2010
- Louisiana closes territorial seas for shrimp harvesting due to probable oil impact - May 07, 2010
- President Obama to tour oil spill disaster area - May 02, 2010
- Florida establishes the Gulf Oil Spill Economic Recovery Task Force - May 11, 2010
- Louisiana Governor Jindal declares state of emergency due to oil spill in the Gulf of Mexico - Apr 30, 2010
- New predictive tool to find where the Gulf spill oil has disappeared - Feb 02, 2011
- Can clams help clean oil-filled waters? - Feb 27, 2011
- Oil spill heads for US coast - Apr 30, 2010
- BP has paid $5 bn to people affected by oil spill - Aug 24, 2011
- US allows BP to drill new Gulf deepwater wells - Oct 22, 2011
- The Cleaning Of The BP Oil Spill To Cost Virtually $5 Billion - May 04, 2010
- Transocean gives bonuses for 'safety' after Gulf of Mexico oil spill - Apr 04, 2011
- Rescued sea turtles from oil spill released back into Gulf after rehabilitatation - Aug 19, 2010
- Colossal Oil Spill In The Gulf Of Mexico Approaching The Shore - May 01, 2010
Tags: bno, boatyards, bp oil spill, deepwater, disaster loans, economic aid, economic assistance, economic injury, financial losses, fishing gear, fuel docks, good paying jobs, jindal, karen mills, louisiana governor, low interest loans, national recession, recreational fishing, sba administrator, small business administration