Three billion dollars has been made available as loans for small businesses affected by Hurricane Ida and other 2020-2021 Louisiana disasters. In a push to help small businesses in the 36 parishes affected by Hurricane Ida, Hurricane Laura, Hurricane Delta, and/or the May floods, the Department of Housing and Urban Development has made available $3 billion in loans ranging from $10,000 minimum to $150,000 maximum. The loans have 0% interest, are 40% forgivable and require no principal payment for the first six months. This means recipients of the loans will have to pay back only 60% of the loan over seven years after the first six months if they follow the rules set by the lenders. These
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