More than 25 local residents gathered at the Jeanerette Chamber of Commerce Thursday to learn more about the program offered through the Acadiana Regional Development District (ARDD).
Iberia, St. Mary, Vermilion and Acadia are just four of the 19 parishes affected by either Hurricane Katrina or Rita eligible for the program, according to Mike Morris, a consultant of the ARDD.
 Karma Champagne / The Jeanerette Enterprise Jeanerette Alderwoman Vernell Mitchell, from left, Phyllis Tate, Carla Hawkins, Mike Morris discuss business opportunities. Advertisement |
Morris said at least 500 businesses received help in Phase I of the program.
“The process is slow so we are trying to get the word out to help those businesses,” said Morris.
Funding for the program is being provided through the Housing and Urban Development, Louisiana Recovery Authority and the Louisiana Economic Development in cooperation with ARDD.
For anyone intending to open a business or expand, Morris said ARDD can offer assistance in the planning stage and help to develop a cash flow statement which is required for a loan.
“Small business is the backbone of America. We are here to help you organize and plan a business,” said Morris.
For those interested in seeking help through the Recovery Grant and Loan Program, an existing business must have been in operation at least six months prior to the hurricanes and must show a 20 percent decrease in revenues from their 2004 total revenues. To qualify, the business must show a minimum of $25,000 in revenue for the year. The first and second year of the loan could be interest free and the next three years at a four percent rate.
“All of Iberia Parish does qualify,” said Morris.
ARDD also provides technical assistance to help with software training such as Quick Books, accounting, web page development.
Technical assistance is also offered to non-profit businesses.For more information on the program, call 337-886-7782.
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