The Louisiana Cultural Economy Foundation announces a new loan fund in partnership with ASI Federal Credit Union, Capital One, the Foundation for Louisiana and the Louisiana Small Business Development Center. With support from JP Morgan Chase and the City of New Orleans Mayor’s Office of Cultural Economy, the partnership is making low-interest loans available to individual creatives and to small cultural businesses, piloting in Greater New Orleans and Acadiana for needs that will increase borrowers’ sustainability.
Creatives can access loans of up to $10,000 at interest rates as low as 8% for periods of up to three years for needs or ideas that can help them grow and prosper. All applicants will work with the Louisiana Small Business Development Center (LSBDC) to create a customized technical assistance plan and will be required to complete at least 12 hours of training within the first 18 months of the loan period.
By combining business training, credit counseling and other technical assistance with low interest loans, the Louisiana Culturepreneur Fund can nurture borrowers through the loan process and maximize success.
To find out if you qualify, review the criteria below: