Small Business Lending In Louisiana

TruFund Financial’s Small Business Loan fund has approved more than $15 million in loans since 2006.

The credit we offer has allowed businesses to continue to invest and even grow, despite challenges including disaster recovery and the economic downturn. These businesses use TruFund Financial funding to open new spaces, purchase new equipment, and hire workers, contributing to the revitalization of their local economies.

Louisiana Businesses Well Represented Through TruFund Financial

Our customers represent a wide range of small businesses from 11 Louisiana parishes. Roughly half of the loans have been to fisheries; another 10 percent are in the restaurant industry, with the remaining 40 percent divided among the arts/culture, construction, trucking/transportation, professional services, agriculture, and retail sectors. Recently, we have been serving an especially diverse spectrum of small businesses, including child care providers, contractors, non-profit organizations, accountants, business consultants, lawyers, and retail shops.

We offer loans to small businesses that struggle to access affordable capital from traditional sources of lending. TruFund Financial’s loans, which target low-income communities, range from $50,000 to $250,000.

What a Difference a Loan Makes

Our loans have made a substantial difference for many businesses. We have provided grants and loans totaling nearly $1.92 million to 64 businesses that create or promote New Orleans arts and culture, including a Mardi Gras Indian organization, local artists, art galleries, tourism businesses, and performing and visual arts nonprofit organizations.

For example, TruFund Financial made an essential loan to TJ’s Carnival Supply, a provider of Mardi Gras beads and throws to parade organizations, to reinvigorate its business.

In the restaurant sector, TruFund Financial has assisted 144 small, mostly minority owned-restaurants through loans or grants totaling $3.5 million. We have also offered business assistance, helping borrowers to develop disaster recovery plans. In addition, we developed an electronic planning tool to help restaurants make effective business decisions, such as determining key hours to remain open to maximize profits.

Other Lending Products

We also offer mid-level commercial and facilities development loans for nonprofit community-based lending organizations, human services, faith- and community-based organizations and both nonprofit and for-profit real estate developers. These loans, designed for projects that benefit our targeted low-income communities and their residents, range from $50,000 to $1.5 million.

A larger loan product, called anchor loans, are available from TruFund Financial to generate investment, stimulate economic development, and create jobs in low-income and underserved communities. These loans are for $1.5 million or greater. Typically, we attempt to coordinate anchor loans with New Markets Tax Credit allocations and other financial tools to fund large-scale projects.

Ready to apply?

If you are interested in applying for a small business loan of $50,000 to $250,000, please download our Louisiana Small Business Loan Application and follow the instructions on the cover page.

Questions? Not sure if you qualify? Please complete our Loan Inquiry Form, contact us at: Louisiana@TruFund.org or call us at: (504) 293-5550 for more information about our Small Business Loan Fund in Louisiana.

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