Areas Served: Assumption, Lafourche, Saint Charles, Saint James, Saint John the Baptist and Terrebonne
SCPDC operates a Revolving Loan Fund designed to link small businesses to financing solutions.
The RLF is funded through a grant from the U.
S.
Economic Development Administration (EDA), a division of the U.
S.
Department of Commerce.
The program is designed to fill the gaps in financing not provided by conventional means.
By offering a fixed rate substantially lower than available commercial rates, the RLF lowers the blended interest rate for a total loan package.
The program is designed to assist expanding and new businesses.
The RLF offers lending amounts between $25,000 and $250,000. To qualify for this program, a business must be: – For profit – A corporation, partnership, or proprietorship – Located in one of the participating Louisiana parishes of Assumption, Lafourche, Saint Charles, Saint James, Saint John the Baptist and Terrebonne – The program is primarily for existing businesses, but will consider new businesses, being started by proven entrepreneurs, with significant job creation potential Loans are available for: – Take out financing for loans for plant construction, conversion, or expansion; – Acquisition of land and/or buildings – Equipment and machinery repair and/or purchase – Furniture or fixtures purchase – Working capital – Starting fees and deposits – Inventory Ineligible uses of funds: – Payment of taxes – Bailout or emergency loans – Investment – Refinancing of debt or equity – Goodwill – Interim loans – Property purchased/constructed/renovated for lease or speculative sales
Contact InformationSouth Central Planning & Devt Commission
Address: 5058 West Main St.
City: Houma
State: Louisiana
Website:
http://www.scpdc.org/?page_id=19
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