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Small Business Loan Guaranty Program (SBLGP)

The loan guaranty program increases small business borrowing power by providing a guaranty to banks and other lender’s on loans to Louisiana small businesses with start-up or expansion needs; provides up to 80% or $1.5 million max guaranty.

About

The Small Business Loan Guaranty Program (SBLGP) facilitates capital accessibility by providing guarantees to banks and other financial institutions on their loans to Louisiana-based small businesses to help with their business development or expansion needs. A loan guaranty is not a direct loan or grant; rather, it helps facilitate the access to capital for small business owners that are having trouble qualifying for a traditional business loan. 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%