State Agencies
While you may elect to contact the following state and federal agencies directly, local economic development agencies are in constant communications with these organizations. They may be able to answer your questions and/or address your problems without you experiencing the cost of long distance calls, or the frustration of being transferred from office to office.
The local agencies include:
The Linked Deposit Program provides for an interest rate reduction of from 1 to 4% on a maximum loan of $200,000 for two to five years on term loans that are funded by banks to Louisiana businesses. Job creation, statistical area employment, and cash flow requirements for underwriting are all criteria which will effect the percentage and term of the linked deposit. Applicants should apply through their lender.
The local agencies include:
- City of Shreveport’s Economic Development Department: 318-673-7515
- City of Shreveport Department of Community Development: 318-673-7500
- Greater Shreveport Chamber of Commerce’s Department of Economic Development: 318-677-2512
- The Coordinating and Development Corporation: 318-632-2022
Louisiana Economic Development Corporation
The Louisiana Economic Development Corporation (LEDC) offers a variety of loan guarantee programs. The LEDC itself does not make direct loans; you must have a bank that is willing to loan you the money with the backing of an LEDC guarantee.Small Business Loan Program
This program provides loan guarantees and loan participation with banks in order to facilitate capital accessibility for businesses. Guarantees may range up to 75% of the loan amount, not to exceed a maximum of $1.5 million. Also provided is a loan participation of up to 40%. The maximum dollar figure for a guarantee or a participation is $1.5 million. Loan participation of up to 40% is also available. Applicants must have a business plan and a bank that is willing to fund the loan.Business Linked Deposit Program
The Linked Deposit Program provides for an interest rate reduction of from 1 to 4% on a maximum loan of $200,000 for two to five years on term loans that are funded by banks to Louisiana businesses. Job creation, statistical area employment, and cash flow requirements for underwriting are all criteria which will effect the percentage and term of the linked deposit. Applicants should apply through their lender.