- July 13, 2021
- Posted by: Stratford Team
- Category: Business
A new $1.1 million revolving loan program has been launched that aims to help Baton Rouge area small businesses most of need in support to recover from the COVID-19 pandemic.
The fund, a partnership between the Baton Rouge Area Chamber, TruFund and the U.S. Economic Development Administration, provides up to $250,000 for businesses, specifically those with 50 employees or less and revenues of less than $3 million. The loans will have terms extending from 6 to 60 months, with interest rates between 0 and 10%. As businesses pay back their loans, that money will be used to issue new loans.
Small businesses interested in applying for a loan through the RLF may contact TruFund Business Development Officers Jay Gaudet at jgaudet@trufund.org or Juan Nathan at jnathan@trufund.org. Small businesses can also call the TruFund Louisiana office line at (504) 293-5550 or visit trufund.org.
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