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Business Counseling & Planning

 

Louisiana Small Business Development Center at the University of Louisiana-Lafayette

The LSBDC at the University of Louisiana-Lafayette is an award-winning center with a highly qualified team of consultants who have been recognized by their peers for their top quality consulting services. Since opening its doors in 1983, the Center has established a solid reputation as an effective business assistance agency in the community, eager to help small businesses prosper. The LSBDC at UL Lafayette serves the eight traditional parishes of the Acadiana Region including Acadia, Evangeline, Iberia, Lafayette, Saint Landry, Saint Martin, Saint Mary, and Vermilion.

For more information, visit lsbdc.org/ull

 

Small Business Programs available through Louisiana Economic Development

 

Bonding Assistance Program

 Louisiana Economic Development’s Bonding Assistance Program provides access to quality bid, payment and performance bonds at reasonable rates from surety companies when bonding capacity is needed on public or private jobs.

·         Offers 25% of contract price or $50,000, whichever is less, in bond guarantee to surety

·         Sureties provide all underwriting and offer competitive rates

·         Bond guarantee may mitigate some risk to surety company, leading to a positive underwriting decision

The Bonding Assistance Program is open to all certified Small and Emerging Business Development Program (SEBD) clients that require bid, payment or performance surety bonds.

Economic Gardening Initiative

Louisiana Economic Development’s Economic Gardening Initiative provides Louisiana-based small businesses with the information they need to grow and succeed. Through accelerated technical assistance and research, an experienced economic gardening team will provide customized services tailored to your business needs, including:

·         Review of core strategies, including threats and opportunities, business strategy and niche markets

·         Business development opportunities through market research and qualified sales leads

·         Improved internet presence by increasing your company’s visibility and credibility within the market, and advice on how to best use technology to connect with customers

Hudson Initiative

Louisiana’s Hudson Initiative is a certification program that is designed to help eligible Louisiana small businesses gain greater access to purchasing and contracting opportunities that are available at the State government level.

·         Your business and contact information will be accessible to State purchasing officials and prime contractors looking for subcontractors

·         State agencies are encouraged to get quotes from and use qualified, certified companies whenever possible

·         For small purchases of less than $15,000, State agencies can waive the requirement of getting additional quotes if a certified company submits a quote that is reasonable

·         10% of the total evaluation points can be added to your bid on a Request for Proposal (RFP)

·         Prime contractors who use your business as a subcontractor on a bid for an RFP are also eligible to receive additional percentage points on their bid

Small and Emerging Business Development Program

LED’s Small and Emerging Business Development (SEBD) Program provides the managerial and technical assistance training needed to grow and sustain a small business.

·         Provides for developmental assistance, including entrepreneurial training, marketing, computer skills, accounting, business planning, and legal and industry-specific assistance

·         Eligibility for the Bonding Assistance Program

·         Consideration for bidding on select products or services purchased by state agencies

·         SEBD Intermediaries provide a free needs assessment and assistance with accessing other program benefits

Small Business Loan and Guaranty Program

The Small Business Loan and Guaranty Program facilitates capital accessibility for small businesses by providing loan guarantees to banks and other small business lenders in association with the federal State Small Business Credit Initiative (SSBCI). The program’s purpose is to provide financial assistance, which will help with the development, expansion and retention of Louisiana’s small businesses. The program is administered by Louisiana Economic Development through Louisiana Economic Development Corporation (LEDC).

·         Guarantees may range up to 75% of the loan amount, not to exceed $1.5 million.

·         Guarantee fee may be waived (determined by risk).

Loan Amount: $5,000 to $1.5 million
Maximum Guarantee: 75%
Minimum Equity Requirement: 15% to 20%
Application Fee: $0
Quick Turnaround for Loans: $350,000 or less

Veteran Initiative

Louisiana’s Veteran Initiative (LAVETBIZ) is a certification program that is designed to help eligible Louisiana Veteran-owned and Service-Connected Disabled-Veteran-owned small businesses gain greater access to purchasing and contracting opportunities that are available at the state government level.

·         Your business and contact information will be accessible to state purchasing officials and prime contractors who are looking for subcontractors

·         State agencies are encouraged to get quotes from and use qualified, certified companies whenever possible

·         For small purchases (less than $15,000), state agencies can waive the required additional quotes if a certified company submits a quote that is reasonable

·         10% of the total evaluation points can be added to your bid on a Request for Proposal (RFP)

·         Prime contractors who use your business as a subcontractor on a bid for an RFP are also eligible to receive additional percentage points on their bid

 

NOTE:  These programs may have special eligibility requirements that must be met to participate.  For more information, visit http://www.louisianaeconomicdevelopment.com/small-business/programs.aspx .