Small Businesses Can Access Loans Up to $500,000

Jefferson Parish Economic Development Commission (JEDCO) was awarded a $2 million grant to deliver loans and/or technical assistance to Jefferson-based businesses. Through the Louisiana Innovation Loan and Technical Assistance Program (ILTAP), JEDCO can authorize loans for the purchase of land and/or buildings, equipment and inventory.

The program is designed to spur economic growth through low interest loans. Every business that secures ILTAP funding is required to create one new job.

“With a minimum rate of 1% for up to 15 years, ILTAP loans provide Jefferson Parish companies with the funding they need to move their business forward,” said JEDCO Director of Finance, Alberto Queral. “It is one more program that JEDCO offers to assist our business owners with financing of fixed assets and inventory.”

Funding for ILTAP comes from federal Community Development Block Grants (CDBG) for recovery of Hurricanes Katrina and Rita.

All applications are reviewed by JEDCO staff and approved by JEDCO’s Finance Committee. Applications are available by clicking here.

For more information on ILTAP or other JEDCO financing options, please contact JEDCO at 504-875-3908 or visit the website at www.jedco.org.