The Winnfield City Council received a quick report at its January 9 session when members heard that a special 7-year loan program has been extended for qualified small businesses and nonprofits that were financially impacted by Hurricanes Laura and Delta.

The Restore Louisiana Small Business Loan Program was supposed to have ended sooner but has been extended with an application deadline now in June* 2024, the city leaders were told.  Financed through HUD and administered by the Louisiana Office of Community Development, the program is offered to 48 of the state’s parishes.

With no applications fees or closing costs, Restore Louisiana is offering loans from $10,000 to $150,000, and perhaps more, at 0% interest and a 40% forgiveness once the first 60% of the awarded loan amount is paid, says administrator Cullen Curole.  “Business owners are strongly encouraged to apply.”

Eligible business much have employed from 1 to 50 full-time employees and have grossed at least $25,000 in revenues before the hurricanes.  It must have been in business at the time, currently be open (or demonstrate the ability to reopen) and have an eligible, unmet financial need.

A representative handed printed materials to the council members.  Information and applications for the Restore Louisiana program is available online at www.scpdc.org, Curole said.  (*Note that while materials show a “June deadline,” they also state an earlier “April 30 deadline.”)