The Micro Lending Program (MLP) is designed to provide access to capital for small businesses and startups with smaller financing needs. The participating lenders will evaluate each loan application, underwrite the loan request and directly lend to the borrower. The loan proceeds can be used to either help with the working capital needs or equipment/inventory acquisition for start-up or expansion projects.

  • Minimum Loan Amount: $1,000
  • Maximum Loan Amount: $100,000

For more information about the SSBCI Micro Lending Program, download the brochure or visit the Frequently Asked Questions.

*Please note: SSBCI has been authorized for seven years and this site will be continuously updated as necessary. To receive email updates about the latest SSBCI news and information, along with other programs and services LED offers to small businesses, click here. If you have a question for the Louisiana SSBCI team, email LEDSSBCI2@la.gov.

  • Eligibility Caret Down
    • Authorized to conduct business in Louisiana and maintains an office in Louisiana
    • 100 employees or less
    • Eligible business purposes include, but are not limited to, start-up costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction, renovation or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. The definition of business purpose excludes activities that relate to acquiring or holding passive investments such as commercial real estate ownership, the purchase of securities; and lobbying activities as defined in Section 3(7) of the Lobbying Disclosure Act of 1995, P.L. 104-65, as amended.
  • Ineligible Businesses and Purposes Caret Down
    • Restaurants, grills, cafes, fast food operations, motorized vehicle, trailer, curb-side, sidewalk or street vendor food operations that have been in business less than 2 years
    • Bars, saloons and other businesses established for the principal purpose of selling or distributing alcohol
    • Gaming or gambling
    • Pyramid sales
    • Financial services
    • Speculative real estate
    • Owner to owner buyouts
    • Refinancing
    • Recreational Park, theme park, amusement park, or camping facility
    • A business engaged in activities that are prohibited by federal law to include direct and indirect marijuana businesses.
  • Program Rules Caret Down

    All incentive program rules are in the Louisiana Administrative Code maintained by the Office of the State Register.

  • Application Process Caret Down
    • Micro Lending Program applicants should contact an approved lender and inquire about their application process, which will vary by lender.
    • Request an MLP application.
    • Applicant completes the lender’s loan application and provides any supporting documents requested.
    • The lender evaluates the application and supporting documentation to complete the underwriting and credit analysis, then structures the loan.
    • The lender submits the full loan package to LED for review.
    • After review of the application packet by the appropriate committee, the lender is notified of the decision.
    • If approved, the lender coordinates the loan closing and disburses funds to the applicant.
    • The lender provides LED with the executed closing package in accordance to the program agreement.

LED Preferred MLP Lenders

Lenders must apply for and be approved by the Louisiana Economic Development Corporation (LEDC) board for participation in SSBCI’s Micro Lending Program (MLP). To date, LEDC has approved the following lenders for participation in the program:

Carter Credit Union
  • SSBCI Contact: Joshua Durden, Commercial Loan Administrator
  • Phone: (318) 382-4430
  • Email: JoshuaD@carterfcu.org
Essential Credit Union
JEDCO
  • SSBCI Contact: Huyen Nguyen, Business Development Officer
  • Phone: (504) 399-9933
  • Email: hnguyen@jedco.org
Lendistry
NewCorp, Inc.

The Micro Lending Program provider approval process remains open, with additional applications to be considered going forward. As new lenders are accepted into the program, their contact information and website links will be added. Lenders wishing to participate in the SSBCI Micro Lending Program may contact LED for more information at LEDSSBCI2@la.gov.