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Financing is available from a variety of institutions:
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- Small Business Administration
The Small Business Administration provides bank guarantees to qualified small business concerns in order to stimulate small business activity and promote small business contribution to economic growth. The SBA may guaranty up to 90 percent of a loan up to an exposure of $750,000.
- Department of Housing and Urban Development
Community Development Block Grants (CDBG) provide recipient communities with funds to be loaned at or below prime interest rates to private enterprises for specified industrial development uses. CDBG funds are primarily intended to augment or leverage private funds. Jobs must be provided primarily for low-to-moderate income persons.
- Economic Development Administration
EDA provides assistance to private lending institutions for loans to private, for-profit businesses located or to be located in designated areas that are burdened with high unemployment or low family income. Loan guarantees up to 80%, to enable the enterprise to borrow at a slightly lower interest rate.
- Private Venture Capital
Some sources of venture capital in Louisiana include the Louisiana Seed Capital Corporation, Premier Venture Capital Corporation, the Greater Baton Rouge Venture Capital Forum, and the Lafayette Venture Capital Club.
- Industrial Revenue Bonds
Industrial Revenue Bonds, issued in amounts up to $10 million, can be used to finance industrial sites, buildings, equipment, and pollution-control projects.
- Quickstart Funding
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These are only some of the financial incentives available to a relocating, expanding, or new business at Chennault. As a pro-business, right-to-work state, Louisiana offers support for new industry at all levels of government. These benefits and others can be tailored to form the package of incentives just right for any business.
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