Business Financing

JEDCO’s financing programs are designed to assist Jefferson Parish-based businesses with financing of fixed assets, working capital and inventory. This is accomplished by utilizing the lending resources of the U.S. Small Business Administration, the Economic Development Administration, the Department of Housing and Urban Development and the Environmental Protection Agency. Most loan programs work in conjunction with bank financing. Under this structure, financing of an eligible project is divided between JEDCO, a private lender and borrower’s equity. These federal loan programs have been established to assist with economic development and have the primary objective of job creation. Loans are made in the range of $10,000 to $5.5 million.

SBA 504 Loan Program

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 »

EDA Revolving Loan Fund

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 »

Louisiana Revolving Capital Fund (LRCF)

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 »

HUD Community Development Block Grant – Revolving Loan Fund

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 »

Industrial Development Bonds (IDBs)

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 »

Innovation Loan and Technical Assistance Program (ILTAP)

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 »