Louisiana Culturepreneur Fund

Making low-interest loans available to individual creatives and to small cultural businesses in Greater New Orleans and Acadiana.

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:

Complete your application

When you’re ready, click the button above to begin the application process. You’ll be able to save your application and return to it if you don’t finish it. Once LCEF reviews your application, it will be reviewed and you will be contacted.  Successful applications will be forwarded to the LSBDC so that you can work together to create a training plan.  The LSBDC will work with you to create a loan package to be forwarded to ASI or the Foundation for Louisiana for final loan approval.

Criteria for loan approval for Individuals include:

  • Must have been in business for at least one year.
  • Must be a creator within the cultural industries.
  • Must be able to demonstrate that they have a track record of receiving compensation for their work in a way that constitutes at least 25% of their annual income.
  • May either have a “big idea” that will increase their ongoing income or have a specific need for supplies, training, equipment or special assistance that will increase their ability to earn income from their work.
  • Must have a written work plan that is reasonable and achievable.
  • Must agree to at least 12 hours of technical assistance/training during the first 18 months of the designated loan period. Total number of hours will be determined by the borrower and LSBDC.
  • Must agree to quarterly reporting.

Criteria for loan approval for Cultural Businesses include:

  • Must operate within the cultural industries.
  • Must have been registered with the Secretary of State’s office for at least one year.
  • Must have gross business income of less than $500,000.
  • Must be able to either provide tax returns or financial statements to demonstrate income for the past two years and projections for the coming year.
  • Must have a written plan that is reasonable and achievable, with an eye toward scalability.
  • Must agree to quarterly reporting.