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  • Home
    • Latest News
    • Upcoming Events
  • About Us
    • History
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    • Executive Team
    • Staff Directory
  • Membership
    • Join Now
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    • Ask the LRA
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      • Educator Resources
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      • Serving the Future
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    • Contact Us
  • SHOWCASE
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    • Publications >
      • À La Carte Magazine
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    • LRA App
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    • Podcasts >
      • We Live to Eat
      • Capitol Connection
    • Awards
    • Advertise
    • Privacy Policy >
      • ADA Compliance
  • Training
    • Servsafe Foodservice Manager
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    • Louisiana Hospitality Jobs

Latest News

State Taking Applications for Restore Louisiana Small Business Loans

5/1/2023

2 Comments

 
The Restore Louisiana Small Business Loan Program is now accepting applications for small businesses and nonprofits affected by natural disasters in 2020 and 2021, Gov. John Bel Edwards announced today. 

The federally funded lending program can cover nonconstruction expenses for eligible organizations.
 

To qualify for a loan, businesses must have one to 50 full-time employees; have been open at the time of the disaster; have had a minimum of $25,000 in annual gross revenues before the disaster; be in one of the program’s eligible parishes, which includes East Baton Rouge, Ascension and Livingston; experienced a financial or physical loss as a result of a 2020-21 disaster; and have an eligible unmet need. 

Loan award amounts will range from $10,000 to $150,000, based on a calculation of unmet needs and eligible expenses. The state has allocated $96.1 million through the Small Business Loan Program, which is funded by the U.S. Department of Housing and Urban Development.

The state has identified four nonprofit lenders to implement and administer the lending program throughout Louisiana—South Central Planning and Development Commission, Regional Loan Corporation, NewCorp Inc., and North Delta Regional Planning and Development District. 

Get more information about the loan program. Information From Baton Rouge Business Report
2 Comments
Dawn Morrisson link
6/5/2023 02:00:24 am

The Restore Louisiana Small Business Loans program is a great initiative to support small businesses in Louisiana. By providing low-interest loans, this program aims to help businesses recover and rebuild after natural disasters. It's encouraging to see the state taking proactive steps to assist local businesses in their recovery efforts. Thank you for sharing this information, which can be beneficial for Louisiana small business owners seeking financial support

Reply
Cahee Creole Shack link
9/5/2023 06:41:42 pm

Seeking loan to move my restaurant foward.

Reply



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