Business Financing

The Economic Development Loan Program (EDLOP) provides direct loans to companies locating or expanding into Louisiana that create at least ten new jobs. Funds can be used to fund construction projects on privately owned property. Loans are approved by the Louisiana Economic Development Corporation (LEDC) Board and any unpaid balances and interest on EDLOP loans can be repaid through “jobs credits” earned by a company through the creation of new jobs associated with the project. Loan repayment term shall not exceed seven years. Read more »

Objective: To promote economic redevelopment by assisting in the clean-up of designated EPA brownfields sites within Jefferson Parish. Read more »

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

This loan program is designed to support small business and to promote economic development in the community. Loan amounts range from a minimum of $25,000, with a maximum determined by project parameters and availability of funds. Eligible uses include acquisition of land and building, purchase of equipment, working capital and inventory. Read more »

This loan program is designed to promote economic development by providing financing to businesses that will create jobs for low-to-moderate income persons as determined by HUD guidelines. Loans range from $10,000 – $150,000 and can be used for land/building acquisition, equipment purchases, project’s professional fees, working capital, and inventory. Read more »

JEDCO is authorized to issue long-term fixed-asset, taxable and tax-exempt revenue bonds to acquire land, to construct, to purchase or renovate buildings, and to acquire and install machinery and equipment used in the business or trade of a for-profit entity within Jefferson Parish. Read more »

This loan program provides growing businesses with long-term, fixed-rate financing for major fixed assets, such as land and buildings. Typically, a 504 project includes a loan secured with a senior lien from a private-sector lender covering up to 50 percent of the project cost, a loan secured with a junior lien from JEDCO (backed by a 100 percent SBA-guaranteed debenture) covering up to 40 percent of the cost, and a contribution of at least 10 percent equity from the business. The maximum “504″ loan amount is $5 million or $5.5 million for small manufacturers. Read more »

The Innovation Loan and Technical Assistance Progran (ILTAP) is design to provide assistance to small business that are currently located in or will open in Jefferson Parish suffering from the long term effects of Hurricanes Katrina and Rita. Small businesses can access loans up to $500,000. The program is designed to spur economic growth through low interest loans. Every business that secures ILTAP funding is required to create one new job. Read more »