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loans
Qualified Farmers in Cenla Parishes Eligible for Low-Interest Loans from USDA
The USDA recently announced that qualified farmers in 13 Central LA parishes are eligible for low-interest loans from the U.S. Dept of Agriculture, because of losses caused by the combined effects of spring and summer drought, followed by excessive rainfall that occurred during the period of April 1 through Oct. 30 this year. Full Article.
CIT Bankruptcy May Crimp the Expansion Plans of Louisiana Businesses
The commercial lender, CIT Group, which until this year was the SBA's largest underwriter, filed for bankruptcy protection earlier this month. The company plans to continue lending throughout its bankruptcy. Full Article.
Federal Reserve Pledges to Hold Rates at Record-Lows
The Federal Reserve held a key interest rate at a record low and again pledged to keep it there for an "extended period" to foster the fragile economic recovery. Full Article.
NEW FEATURE: NON-BANK LENDER PAGE !
We now have a new web page that provides links to some of Cenla’s Non-Bank Lenders!
Red River Valley Bidco, Inc.
The Red River Valley BIDCO, Inc., a for-profit business and industry development corporation, is a financial assistance corporation providing loan funds for business, industry and job creation. The RRV BIDCO supplements private lenders' efforts by either participating with them on special financing projects or by direct loans to borrower who cannot qualify under a private lender's rule. Maximum loan amount is $1 million.
Non-Bank Lenders
Non-Bank lenders are a special group of organizations that cater to businesses other lenders overlook. Many commercial banks will not make commercial loans under $50,000, and are not willing to risk investing in very small start-up businesses or in loans not fully collateralized.
Obama Announces Plans to Raise SBA Flagship Loan Maximum
On 10/21/09, the Obama Administration announced a new set of initiatives to help spur lending to small businesses. The initiatives will lower the cost of capital for smaller banks and community development financial institutions that present plans to the Small Business Administration for increased small business lending through the SBA's flagship 504 and 7(a) programs.
Small Business Administration Loan Guaranty Programs – New Web Page !
Be sure to visit our new web page, titled Small Business Administration Loan Guaranty Programs, which provides information on types of SBA loans, links to reference sites and a list of common items you may need to provide to your bank. Go To Webpage
Angel Capital
Angel Capital Networks exist to identify, fund and develop new investment opportunities in high growth private companies. The Angel Capital Network includes accredited investors from around the world who have entrepreneurial and management experience.
