Overview
The Small Business Loan program provides loan guarantees and
participations to banks in order to facilitate capital
accessibility for businesses. The program's purpose is to provide
financial assistance, which will help with the development,
expansion and retention of Louisiana's small businesses.
Benefits
Guarantees may range up to 75% of the loan amount, not to exceed
a maximum of $1.5 million. Loan participations of up to 40% are
also available.
Eligibility
Must be a Louisiana small business (as defined by the Small
Business Administration).
Small business concerns domiciled in Louisiana whose owner(s) or
principal stockholder(s) shall be a resident of Louisiana.
For comprehensive rules and details on eligibility, please
review Related Content below and contact the
appropriate administrator.
How to Apply
To apply for funding through the Small Business Loan program,
the following procedure must be followed:
- A detailed business plan must be submitted first. You may also
contact the nearest small business development center for
assistance in developing your business plan.
- Submit the completed business plan to your local bank and
establish a relationship with a lending officer.
- Submit a copy of the completed business plan to Louisiana
Economic Development Corporation, along with the name of your bank
and contact person.
For fees associated with the program, please read the program
rules below for details.
Related Content
Administration
This program is administered by Louisiana Economic Development
through Louisiana Economic Development Corporation.
For information regarding the Small Business Loan program,
contact the LEDC office at 225.342.5675.
