Small Business Assistance Fund
The Small Business Assistance Fund (SBAF) is a new financing program created in partnership with the City of New Orleans and NewCorp, Inc. (NewCorp), to support the growth of new and existing businesses. By providing access to capital, SBAF will encourage small business inclusion and job creation.
This $2 million fund provides 8% interest rate loans to for-profit and not-for-profit businesses for operating capital and equipment purchases. SBAF loans will range from $10,000 to $100,000. The maximum length of the term loan is up to 84 months and will depend on the financing need/use of funds of the borrower.
SBAF is partially funded by the City of New Orleans Economic Development Fund.