Tuesday, 18 September 2012 08:04
New Orleans Mayor Landrieu announces new small business financing program

new-orleansToday, in Mayor Landrieu's Office of Economic Development announced a new program to encourage small business expansion and job creation. The New Orleans Small Business Assistance Fund (SBAF), created in partnership with the City and NewCorp, Inc., is a new financing program designed to support the growth of new and existing businesses.

“I am committed to growing our small businesses and creating jobs in our community,” said Mayor Landrieu. “This initiative is yet another example of how we can build capacity among our local businesses, remove obstacles to capital and ensure their inclusion in local opportunities.”


The SBAF is a $2 million fund that will provide 8% interest rate loans to for-profit and non-profit businesses for operating capital and equipment purchases. SBAF loans are expected to range from $10,000 to $100,000. The maximum term of the loan is up to 84 months and will depend on the financing needs of the borrower. To be eligible, participants must meet the following requirements:

Domiciled in Orleans Parish;

Demonstrate that it has been unable to access capital from traditional lending sources;

Demonstrate financial and economic viability to spur growth and employ City of New Orleans residents; and

Provide living-wage employment and ownership opportunities to low-to-moderate income communities.

SBAF is partially funded by the City of New Orleans Economic Development Fund and is a partnership between the City and the NewCorp, Inc.  – the local Community Development Financial Institution (CDFI) selected to administer the program.

“The Economic Development Advisory Committee has been working for a long time to make the EDF Fund promote equitable economic opportunity,” said Judith Dangerfield, chair of the advisory committee. “The Small Business Assistance Fund does that –  for our small businesses and entrepreneurs, our unemployed and underemployed citizens, and our communities.  Thanks to the Mayor's Office of Economic Development  and to Newcorp for rolling up their sleeves and fostering a meaningful partnership to leverage limited resources and provide investments for citizens and neighborhoods that have nowhere to go but forward.”

Vaughn Fauria, president and executive director of NewCorp Inc., said, “The Small Business Assistance Fund program presents an opportunity for the small business person and the entrepreneurial community, that have not had access to capital and coaching assistance, to access  those resources now. The City of New Orleans and NewCorp are committed to the small business enterprises and fully realize that a healthy business community supports job creation and a thriving city.”

The City and NewCorp will hold a program information session in each Council district to provide details on the program and walk business owners through the application process.

The following is the list of community meetings in order of date:

Council District A

Thursday, September 20, 2012

Regional Planning Commission Office

10 Veterans Memorial Boulevard

Council District B

Tuesday, September 25, 2012

Rosa Keller Library

4300 S. Broad Street

Council District C

Thursday, September 27, 2012

NOPD 4th District Office

2045 Sanctuary Drive

Council District D

Tuesday, October 2, 2012

Dillard University Professional School Building

2601 Gentilly Boulevard

Council District E

Thursday, October 4, 2012

NOPD 7th District Office

10555 Lake Forest Boulevard

All information sessions will be held from 5:30 pm – 6:30 pm. The application period begins on October 1, 2012, and application deadline is October 31, 2012.

“We are very excited to provide this resource to our local businesses,” said Aimee Quirk, advisor to the Mayor for Economic Development. “Our local businesses are tremendous and essential partners in the rebuilding of our city and any tools we can provide them to ensure their success means a win for the entire city.”

SBAF applications are available online at For additional program information and questions about program eligibility, please contact NewCorp, Inc. at  504-208-1700 or This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..">.


 {jvotesystem poll=|28|}


  Want more Louisiana news?               

Louisiana News

Louisiana Politics

Louisiana Business

Louisiana Government

 Baton Rouge News

Lafayette News

Shreveport  News

New Orleans News



Signup for Our Newsletter


Scan the QR Code above using your smartphone to signup for our newsletter.

Join Our Email List



Media Sources


Login to post comments
  • A July 4th Fact of Facts: America is Land of Immigrants
  • Poll: Trump strong on jobs, weak on tweets, viewed as reckless, thin-skinned, sexist
  • President Trump, It doesn't feel like Independence Day
  • YIPPIE! The naked truth about free speech, cherished especially on Independence Day

mass2On July 4, 1778, George Washington doubled liquor rations for the soldiers quartered in Princeton, NJ, as a way to celebrate Independence Day. It’s fitting, therefore, that the Fourth of July is America's top-selling beer holiday, according to the Beer Institute. It estimated, in 2013, that sales of beer on the 4th could total $1 billion, doubtlessly higher today. “In moderation,” claims a CA brewery investor, Grover McKean, “beer is tasty and healthy.” Who could disagree?

Read More

joe mikaAs Donald Trump faces the top world leaders this week, including a face-time with Vladimir Putin, and as his healthcare proposals face an uphill climb, his poll numbers for how the nation views him could be better.

According to a morning Consult/Politico poll released Wednesday morning, his tweets, including that against MSNBC's Mika Brzezinski, and his personality are not helping him, at all.

Read More

indy dayII know the calendar says we are approaching the 4th of July, but, it just doesn’t feel like Independence Day.

Perhaps it should.  It’s hot as heck.  The airlines have been packed. The hot dogs are ready for grilling.  The umps are saying, "play ball". The patriotic activities are scheduled. The fireworks are ready-for-blasting. 

Yet, it just doesn’t feel like independence day.

Read More

bill rights2To President Thomas Jefferson, July 4th celebrated more than the signing of the Declaration of Independence. He thought it was a link to the future. The message prominent colonists sent to King George III led to the Constitution and the Bill of Rights, the initial and most prominent feature of which is the First Amendment that guarantees free speech. It’s part of the country’s fundamental essence that each man and woman can say what they feel about government, or anything else, proving President Donald Trump needs some civics lessons.

Read More


Dead Pelican

Optimized-DeadPelican2 1 1