The SCPDC’s Economic Development Department works with organizations such as US Department of Commerce Economic Development Administration (EDA), Environmental Protection Agency (EPA) and Delta Regional Authority (DRA’s) as well as with municipalities, Parishes and community groups to provide assistance for disaster recovery, business financing and entrepreneurial trainings to small businesses in Louisiana.
Revolving Loan Fund (RLF)
SCPDC operates a Revolving Loan Fund designed to link small businesses to financing solutions. The RLF is funded through a grant from the U. S. Economic Development Administration (EDA), a division of the U. S. Department of Commerce. The program is designed to fill the gaps in financing not provided by conventional means.
By offering a fixed rate substantially lower than available commercial rates, the RLF lowers the blended interest rate for a total loan package. The program is designed to assist expanding and new businesses. The RLF offers lending amounts between $25,000 and $250,000.To qualify for this program, a business must be:
- A corporation, partnership, or proprietorship
- Located in one of the participating parishes
- The program is primarily for existing businesses, but will consider new businesses, being started by proven entrepreneurs, with significant job creation potential
Loans are available for:
- Take out financing for loans for plant construction, conversion, or expansion;
- Acquisition of land and/or buildings
- Equipment and machinery repair and/or purchase
- Furniture or fixtures purchase
- Working capital
- Starting fees and deposits
Ineligible uses of funds:
- Payment of taxes
- Bailout or emergency loans
- Refinancing of debt or equity
- Interim loans
- Property purchased/constructed/renovated for lease or speculative sales
Revolving Capital and Innovation Loans
The SCPDC offers offers opportunities for business recovery through revolving capital and innovation loan programs. Read more.
Brownfields are abandoned, idle or under-used industrial and commercial properties where reuse of redevelopment is complicated by real or perceived environmental contamination. Read more.
Comprehensive Economic Development Strategy
The EDA has designed the CEDS as a vehicle for bringing together public and private sectors to create an economic roadmap for fostering diversity to strengthen regional economies. The CEDS analysis lends itself to establishing goals and objectives for the regional economy and identifying investment priorities and possible funding sources to aid implementation. The regional CEDS is thus the product of a continuous process of strategic economic development planning.