Resources for companies hard hit by Ida


Wednesday marks a month since Hurricane Ida made landfall as a catastrophic Category 4 storm. Many local businesses are still struggling to reopen. Jerry Bologna, president and CEO of JEDCO, says lack of electricity, the internet and extensive damage to buildings are preventing some businesses from closing. Staff shortages and distribution delays are additional hurdles that existed before the storm, but are now even worse. Bologna said JEDCO is expanding its resources to businesses outside of Jefferson Parish to help guide more businesses through the takeover process. JEDCO also pleads in favor of federal disaster aid that does not further indebted companies. “We know that in some cases our companies are still repaying loans related to Hurricane Katrina,” Bologna said. “They also took our economic damage, our COVID disaster loans and what we don’t want is our businesses just taking on more debt. This is not how a business maintains itself, it is to continue to take on more debt. So we will be working with our congressional delegation to see if there are answers to this puzzle. JEDCO is hosting a webinar on Business Takeover Resources Wednesday from 10 am to 11:15 am For more information, click here.

Wednesday marks a month since Hurricane Ida made landfall as a catastrophic Category 4 storm.

Many local businesses are still struggling to reopen. Jerry Bologna, president and CEO of JEDCO, says lack of electricity, the internet and extensive damage to buildings are preventing some businesses from closing. Staff shortages and distribution delays are additional hurdles that existed before the storm but are now even worse.

Bologna said JEDCO is expanding its resources to businesses outside of Jefferson Parish to help guide more businesses through the takeover process.

JEDCO also pleads in favor of federal disaster aid that does not further indebted companies.

“We know that in some cases our companies are still repaying loans related to Hurricane Katrina,” Bologna said. “They also took our economic damage, our COVID disaster loans and what we don’t want is our businesses just taking on more debt. This is not how a business maintains itself, it is to continue to take on more debt. So we’ll be working with our congressional delegation to see if there are answers to this conundrum. “

JEDCO is hosting a webinar on Business Takeover Resources Wednesday from 10 a.m. to 11:15 a.m. For more information, click here.

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