RECORDING: Online Forum with the SBA
LOUISIANA REALTORS • April 6, 2020
Louisiana REALTORS® hosted Jo Ann Lawrence, Deputy Director of the Deputy Director of the U.S. Small Business Administration Louisiana Office, and Susheel Kumar, Public Information Officer, for the U.S. Small Business Office of Disaster Assistance, Field Operations Center – West, to provide a high-level overview of SBA programs available to assist businesses during this current crisis.
With over 1,000 REALTORS from around the state tuning it, we have made this recording available for playback along with a copy of the presentation for reference. This recording is approximately 1 hour in length and provides information on various SBA programs available to assist REALTORS® who have experienced business losses and setbacks due to the coronavirus pandemic.
One important item to note is that good record-keeping throughout the process is essential. In order to apply and for funds to possibly be forgiven you will need to provide information and demonstrate the qualifying amount to your lender and/or the SBA. Additionally, the SBA has moved swiftly to make these funds available and the SBA and lenders alike are still putting some processes into place to administer these programs. We are all reminded to be patient, yet persistent.
It is difficult to determine what is best for each business owner’s situation. In real estate, there are a wide range of business models and what is right for one model may not be right for another. Therefore, Louisiana REALTORS® suggests you consult with your accountant and financial advisor or talk with your business banking institution to determine the option that is best suited for your needs. A consolidated list of the more common and general questions following the call will be posted at a later date.
For more information always check back to: SBA and LED Financial Assistance
and the U.S. Department of the Treasury - Assistance for Small Businesses
From the Louisiana Department of Insurance: Insurance Commissioner Tim Temple joined Governor Jeff Landry and Senate Insurance Committee Chairman Kirk Talbot today to announce that Louisiana is investing an additional $20 million in Fortified homes, bringing the total amount invested in state Fortified projects this year to $100 million. Governor Landry announced that $20 million from the U.S. Department of Housing and Urban Development will be transferred to the Louisiana Office of Community Development Restore Resilient Opportunities for Overhead Fortification (Restore ROOF) program to strengthen residential structures and reduce long-term disaster risk. Earlier this year, the Legislature passed a bill that allows $50 million in additional Katrina and Rita bond money from Louisiana Citizens Property Insurance Corporation to be added to the Department of Insurance’s Louisiana Fortify Homes Program (LFHP). Also beginning this year, LFHP is projected to receive approximately $30 million annually from taxes and fees the Louisiana Department of Insurance collects from the insurance industry. “Building stronger homes is a vital part of making homeowners insurance affordable in Louisiana,” said Commissioner Temple. “I appreciate Governor Landry’s leadership and support as we work with legislators like Chairman Talbot to make Louisiana a national leader in the adoption of Fortified roofs.” The Louisiana Department of Insurance (LDI) has finalized its promulgation of Regulation 136—Fortify Homes Premium Discounts. The purpose of Regulation 136 is to implement the statutory provisions set forth in La. R.S. 22:1483, et seq. , which require that all Louisiana property and casualty insurers provide premium discounts or insurance rate reductions for homes constructed or upgraded in accordance with the fortified standards created by the Insurance Institute for Business and Home Safety. View Regulation 136 here .
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