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Restore increases loan limit to $150,000 for flood-stricken small businesses, extends deadline

Source: theadvocate.com/baton_rouge/news/business/article_e3266f74-a920-11e7-b01e-d73da2076f0d.html - Oct 5, 2017

The state's Restore program has extended the application deadline and expanded loan limits for small businesses and nonprofits affected by the 2016 floods.

Under the changes by Gov. John Bel Edwards’ Office of Community Development, interest-free loans available through the program now range from $10,000 to $150,000. The previous range was $20,000 to $50,000.

The deadline is now Oct. 31 for flood-impacted small businesses and nonprofits to submit loan applications to participating lenders.

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Category: General Business