by Stephen Waguespack
In August, Louisiana experienced a flooding event of historic proportions. Estimates are that 109,000 housing units were damaged, 20,000 businesses were interrupted, and property damages totaled $8.7 billion. Two months after the event, Louisiana families and employers are at the beginning of a long and challenging road to recovery. This is especially true of small businesses across south Louisiana, the majority of which did not have comprehensive flood insurance, are not eligible for FEMA assistance, and whose only recourse is a federal Small Business Administration (SBA) loan between four and eight percent. More than 6,000 businesses flooded in 22 parishes and Congressional testimony has woefully noted that nearly half of businesses would likely never re-open after this disaster.