As New Orleanians work to recover from the storm, they should not be burdened with SBA loan payments
NEW ORLEANS - District “D” Councilmember Jared C. Brossett has written a letter to President Biden asking him to forgive the remaining SBA loans that were granted due to Hurricane Katrina. Additionally, the Councilmember will be moving forward with a resolution at the next Council meeting, calling on Biden to forgive the loans.
“In the aftermath of Hurricane Ida, people will yet again be forced to take out loans to cover the costs of repairs,” said Councilmember Brossett. “President Biden has the authority to forgive the loans that were granted over a decade ago and allow for residents to focus on the immediate hurricane recovery at hand. The federal government already forgave $391 million in disaster loans to local governments in 2014. I am simply asking President Biden to finish the job.”
Councilmember Brossett is focused on helping the most vulnerable New Orleanians through the recovery process. Katrina-related SBA loan forgiveness would allow those who are still financially recovering from Hurricane Katrina to focus on what they need to do to move forward from Hurricane Ida.
View the full letter here.
Chief of Staff
Councilmember Jared C. Brossett, Chair, Budget/ Audit/Board of Review
Chair, Emergency Preparedness and Cybersecurity