State Small Business Credit Initiative’s Micro Lending Program Requirements

What You Need to Know about the State Small Business Credit Initiative’s Micro Lending Program

The State Small Business Credit Initiative (SSBCI) is a $10 billion federal program that helps states support small businesses and startups that are creditworthy but unable to access the capital they need to grow or establish their businesses and create jobs.

Louisiana’s SSBCI includes a Micro Lending Program (MLP) that is designed to provide access to capital for small businesses and startups with smaller financing needs. The participating lenders will evaluate each loan application, underwrite the loan request and directly lend to the borrower. The loan proceeds can be used to either help with the working capital needs or equipment/inventory acquisition for start-up or expansion projects.

During this session, attendees will learn about the MLP’s eligibility requirements, the application process, and hear directly from the SSBCI program managers and approved MLP lenders. Panelists include:

• Shamelda Pete, MBA, EDFP, Business Development Supervisor, Louisiana Economic Development
• Karla Henderson, Business Development Officer, Louisiana Economic Development
• Jonathan Reynolds, Chief Commercial Officer, Carter Credit Union
• LaDonna Evans, Vice of President of Commercial Services, Essential Credit Union

There is no cost to attend, however, registration is required. Register today to reserve your spot!

After registering, you will receive a confirmation email containing information about joining the training.