LED - Gov. Edwards: State-Led Program

 
 
 
 
LED | Louisiana Economic Development
 
 
 
  News Update  
 
 
 
GOV. EDWARDS: STATE-LED PROGRAM TO OFFER COVID-19 SMALL BUSINESS HELP
 
Firms of fewer than 100 employees will be able to borrow up to $100,000 at below-market interest rates 
 

BATON ROUGE, La. — Today, Gov. John Bel Edwards announced a new Louisiana Loan Portfolio Guaranty Program, which will offer loans of up to $100,000 to Louisiana small businesses of fewer than 100 employees that are impacted by the COVID-19 crisis. To help Main Street and rural businesses sustain operations, the loans will require no payments for 180 days and carry below-market interest rates of no more than 3.5 percent.

The Loan Portfolio Guaranty Program, or LPGP, is a partnership of Louisiana Economic Development, which will provide a loan guaranty fund; the Louisiana Bankers Association, whose membership will provide the loans; and the Louisiana Public Facilities Authority, which will administer the program. A total loan pool of $50 million will be quickly disbursed to eligible small businesses across Louisiana.

 

Read more about the announcement.

 
 
 
 
 

LED | Louisiana Economic Development

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