Terrebonne Revolving Loan Fund for Small Businesses
Terrebonne Parish Consolidated Government's business lending programs are designed to participate in projects with private lenders. When a borrower visits a conventional lending institution, he or she may discover that a gap exists between his or her needs and what the bank is willing to lend. When this happens, Terrebonne Parish's participation in the project may be possible.
Although this lending program is constrained by limited resources and applicants must meet certain criteria imposed by the U.S. Department of Housing and Urban Development, it is structured to assist small businesses lacking the necessary capital for start-up or expansion, thus creating jobs for the people of Terrebonne Parish.
Terrebonne's RLF is administered by Terrebonne Economic Development Authority.
Eligibility Checklist
- Applicant must be living within Terrebonne Parish, or willing to relocate in the Parish of Terrebonne.
- Purpose of the loan must be to assist in the start of a new or the expansion of an existing business which results in the creation of net new jobs. At least 60% of the new jobs must be made available to low- and moderate-income individuals in Terrebonne Parish, as defined by the HUD.
- Loan proceeds may not be used for real estate development, bars, casinos, nightclubs, or any other venture whose primary purpose or income is derived from the sale of alcoholic beverages, gaming, and/or gambling.
- Funds must be used for the purchase of land, buildings, machinery, inventory, or start-up costs to be utilized by the company applying for the loan.
- The application for the RLF must be a part of a commercial loan package.
To obtain an application contact:
Terrebonne Economic Development Authority
496 Corporate Drive * Houma
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