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South Central Planning & Development Commission (SCPDC) is set to receive an additional $9.9 million for its 2023 Restore Louisiana Small Business Loan Program.
The new funding will designate $8 million to the Laura-Delta impacted parishes and $1.9 million to the Ida-May Flood impacted parishes. Originally, SCPDC asked for an additional $15 million to cover the Ida-May Floods files, and while the $1.9 million did not meet our request, the state has expressed confidence that the full amount will ultimately be awarded. Once awarded, this will enable SCPDC to assist another 100-150 storm-impacted businesses, a cooling relief to both owners and program staff ahead of the anticipated long and hot summer. If the anticipated funding is approved, the Louisiana Office of Community Development – Disaster Recovery Unit contract will have grown to nearly $100 million in total.
To Date, SCPDC has funded over 450 loans depleting earlier allocations but applications have exceeded funding. The department has been working diligently for months seeking additional funding to cover the existing eligible applications on file.
The original agreement with the Louisiana Office of Community Development – Disaster Recovery Unit provided $37.5 million in disaster recovery funding for small businesses impacted by 2020’s Hurricanes Laura and Delta. The footprint of the eligible area covers much of Southwest and Northern Louisiana. The contract also funded $25 million for businesses impacted by Hurricane Ida and the May 2021 Floods. This area covers most of Southeast Louisiana. An additional $10 million was provided adding to the Ida allocation back in the Summer of 2024.
The $8 million should cover the additional Laura-Delta applications on file.
In 2024, SCPDC was asked to cover north Louisiana to assist with outreach and encourage greater participation in the program. North Louisiana has not traditionally been eligible for these programs, but unlike past storms, both Laura and Delta brought hurricane-force winds to the northern parishes. SCPDC sends a heartfelt Thank You to all the staff across the state who have worked the Restore Small Business Program. Originally, in 2023, SCPDC opened eighteen satellite offices to accept files. In addition to Houma, we today still have offices in Lake Charles, Lafayette, Abbeville (which is scheduled to close in May), Baton Rouge, and Marrero.
The latest $8 million will help fund some remaining Laura-Delta eligible files, with previous funding covering 86 loans in Acadiana, 93 in Southwest Louisiana (primarily Lake Charles), and 31 in North Louisiana. The $1.9 million will fund remaining eligible files on the Ida-May side, with previous funding covering over 61 loans in New Orleans, 36 in the Capital Region, and the majority at ground zero in Terrebonne and Lafourche parishes. Support also aided several businesses in St. Charles, St. John, St. James, Assumption, and St. Mary.
For more information contact Cullen Curole or Lisa Maloz at 1-800-630-3791.
