EDA Recovery Loans Louisiana

LiftFund’s EDA recovery loans are designed to support you during the COVID-19 crisis, and help you stabilize your business so you can continue making a difference in your community. 

Loan Details:

  • – Recovery loans up to $137,500
  • – 3.5% fixed interest rate
  • – 2% commitment fee

Funds may be used for:

  • – Equipment and machinery purchase
  • – Commercial vehicles purchase
  • – Purchase real estate for business immediate occupancy (minimum 60%)
  • – Leasehold improvement and construction
  • – Working capital for leasehold improvements and other business costs associated with the project

Eligibility:

  • – For-profit businesses with physical address and operations within the qualified areas.
  • – Existing Businesses, in operations prior to September 1, 2019 that suffered an economic injury 
  • – Start Up businesses created to support the response to the crisis

Qualified Areas:

The EDA recovery loans are available in the following parishes:

Acadia, Evangeline, Iberia, Jefferson, Lafayette, Lincoln, St. Landry, St. Martin, St Mary, Vermillion, Allen, Beauregard, Calcasieu, Cameron, and Jefferson Davis. 

Ineligible businesses:

The following business operations are not eligible for our EDA recovery loan funds.

  • – Non-Profit Businesses
  • – Businesses engaged in lending
  • – Passive Businesses
  • – Businesses selling through a pyramid plan
  • – Gambling activities
  • – Businesses engaged in promoting religion
  • – Private clubs that limit membership for reasons other than capacity
  • – Consumer and Marketing Cooperatives
  • – Any Business that had caused a prior loss to the government