Louisiana Small Business Loan Guaranty Program (SBLGP)
About the Program
The Small Business Loan Guaranty Program (SBLGP):
Facilitates access to capital by providing guarantees to banks and other financial institutions on loans to Louisiana-based small businesses for business development or expansion. A loan guaranty is not a direct loan or grant; rather, it helps small business owners who are having trouble qualifying for a traditional business loan access capital. If a bank is unwilling to lend money due to high risk or strict credit policies, a state guarantee may significantly reduce the bank’s risk without compromising its usual lending requirements.
- Maximum Guaranty: 80% or $1.5 million max guaranty
- Minimum Equity Requirement: 15%
- Quick Turnaround: for guaranty amounts \<$500,000
- Guaranty Fee: 0% to 2% of guaranteed amount (determined by risk)
For more information about the SSBCI Small Business Loan Guaranty Program, download the brochure (opens an external page in a new window)or visit the Frequently Asked Questions.
Eligible Business Purposes for Loans
• Revolving lines of credit
• Startups
• Acquisitions
• Fixed assets purchases
• Purchase or construction of building (limited to 51% applicant occupancy)
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