APPLYING FOR A BUSINESS LOAN?
STEP 1: AM I ELIGIBLE
Your business must be located in one of the following parishes: Acadia, Allen, Beauregard, Cameron, Evangeline, Iberia, Jefferson Davis, Lafayette, St. Landry, St. Martin, St. Mary, Vermilion, and Veron Parish. Other parishes qualify (see map), however you may need to contact your local planning district for assistance.
Public and/or quaisi-public agencies, as well as units of government are eligible for these loan funds.
Loans will be funded for the purposes of:
- Acquiring or improving real property
- Constructing, improving, renovating, or expanding buildings and other fixed structures
- Purchasing, repairing, or modernizing machinery or equipment with a remaining useful life of ten (10) years
- Working capital for specifically defined purposes (inventory, insurance, etc.)
- Professional fees - legal, title search, title insurance, appraisal, accounting, environmental assessment, etc.
Loans will NOT be considered for:
- Lines of credit
- Gaming operations
- Debt refinancing (reduction of interest rates, loan consolidation)
- Financial institutions or others for purposes of relending
- Site relocations causing a net loss of jobs within a commuting area
- Speculative purposes (rental income, etc.)
- Bars and lounges
