State-Led Program to Offer COVID-19 Small Business Help

METAIRIE – From the Jefferson Chamber:

A new Louisiana Loan Portfolio Guaranty Program was announced this week and will offer loans of up to $100,000 to small businesses of fewer than 100 employees impacted by the COVID-19 crisis.

The loans will require no payments for 180 days and carry below-market interest rates of no more than 3.5 percent.

The Louisiana loan program partners — Louisiana Economic Development, Louisiana Bankers Association and Louisiana Public Facilities Authority — envision helping small businesses meet critical needs for operating their firms during and beyond the disruption of the COVID-19 pandemic. A total loan pool of $50 million will be quickly disbursed to eligible small businesses across Louisiana.

Categories: Alerts, COVID-19