Small Business Loan Program (Louisiana)

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Last modified on February 12, 2015.

EZFeed Policy

Place Louisiana


   
Applies to States or Provinces Louisiana
Name Small Business Loan Program (Louisiana)
Policy Category Financial Incentive
Policy Type Loan Program
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy
Active Policy Yes

Implementing Sector State/Province











Funding Source Louisiana Economic Development Corporation




Maximum Incentive $1.5 Million










Program Administrator Louisiana Economic Development
Primary Website http://www.louisianaeconomicdevelopment.com/small-businesses/programs/small-business-loan-and-guaranty-program.aspx



Last Review 2014-09-15



Summary

The Louisiana Economic Development Small Business Loan Program provides loan guarantees and participations to banks to facilitate capital access 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. Benefit guarantees may range up to 75% of the loan amount, not to exceed $1.5 million. Loan participations of up to 40% are available as well.

ELIGIBILTY

Must be a Louisiana small business (as defined by the Small Business Administration) Must be domiciled in Louisiana Owners or principal stockholders shall be Louisiana residents For loans of $100,000 or less, there must be one new permanent job or one retained job For loans over $100,000, there must be two new permanent jobs created



Policy Contact

Contact Name Seth Brown
Department Louisiana Economic Development
Division Small Business Loan and Guaranty Program
Address 1051 Third Street

Place Baton Rouge, Louisiana
Zip/Postal Code 70802-5239
Phone 225-342-5254


Email seth.brown@la.gov
Website http://www.louisianaeconomicdevelopment.com/small-businesses/programs/small-business-loan-and-guaranty-program.aspx
     
     


















References