Schexnaydre Law Firm, LLC

Louisiana Businesses Decide Whether to Rebuild After Historic Flooding

Among the uncertainties in the aftermath of this year's historic flooding in Louisiana, the question of whether to rebuild is on the minds of many homeowners and businesses.

To help with that decision, the Small Business Administration is encouraging businesses and homeowners to sign up for low-interest loans and microgrants.

Businesses have been understandably slow to respond.

The SBA has already approved more than $214 million in loans, but so far only $15.4 million of that has gone to businesses.

It is estimated that about 12,000 businesses are located in the flood-affected areas, but the reality is that, for many people, it's still too soon to decide whether taking on a loan makes sense.

The Louisiana Small Business Rebirth Fund has been created to provide microgrants, but simply getting the cash isn't the only concern.

The microgrants range from $1,000 to $10,000, and about 620 businesses have applied so far.

Still, the question for many is whether other people -- families and businesses -- will also choose to rebuild and start over.

To speed the recovery, business groups are urging lawmakers to provide tax breaks and other incentives that will encourage investment, stimulate construction and help entire geographic areas recover.

As recovery gets underway, construction industry professionals will need to ensure that their legal bases are covered.

As contractors and other construction professionals throughout Louisiana know, legal disputes are not uncommon as communities strive to rebuild in the aftermath of natural disasters. Often in these matters, a business's future or a professional's license may be on the line, and it is crucial to have experienced legal counsel to help resolve the matter in the most efficient way possible.

For more on these matters, please see Schexnaydre Law Firm's overview of construction and contractor liability.

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Schexnaydre Law Firm, LLC
2895 Highway 190, Suite 212
Mandeville, LA 70471

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