The program is designed to assist small business expansion projects by leveraging private funds with low-cost, fully amortized term loan facilities. Loan amounts range from $25,000 to $150,000.  Eligible uses include working capital, land/building acquisition, and equipment purchases. 

Objective: To assist small business expansion projects by leveraging private funds with low-cost, fully amortized term loan facilities.

Eligibility
• For-profit business
• Project must be located in Jefferson Parish
• Requirement is creation/retention of one job per $10,000 in EDA assistance

Loan Purpose
• Land/building acquisition
• Purchase equipment
• Working capital

Loan Size
$25,000 - $150,000

Typical
Prospective applicants must demonstrate that the project financing could not be obtained through conventional sources.

Structure
For each $1 of funding from JEDCO/EDA, there must be at least $2 of private funds from private lender and/or equity.

Rate
As determined by JEDCO

Term
• Fixed Asset Loans -- 5 to 20 years
• Working Capital Loans -- 3 to 7 years

Fees
Commitment Fee: 1 percent of JEDCO financing, or $500, whichever is greater.