This state-backed loan program helps small and mid-sized businesses in Louisiana access capital for modernization, technology, and growth. It’s ideal for companies investing in tools like Insight Engines but lacking perfect credit or traditional collateral.

Why It’s a Strong Fit

• Covers up to 80% of a loan’s value, making it easier for banks to approve tech-focused investments
• Loans can be used for software, SaaS, consulting services, or implementation costs
• Designed for SMBs that may not qualify for traditional credit but have active operations or assets
• Backed by Louisiana Economic Development (LED) and the U.S. Treasury

How It Works

• You apply for a business loan through a participating Louisiana lender (bank, credit union, or CDFI)
• The lender requests a guarantee from LED/SSBCI to reduce their risk
• If approved, you get funded under more flexible terms—often with lower credit or collateral requirements

Eligibility

• Authorized to conduct business in Louisiana and maintains an office in Louisiana
• Small businesses with 500 employees or less
• For loans of $100,000 or less, must be at least one new permanent job created or one retained job
• For loans over $100,000, must be at least two new permanent jobs created
• Eligible business purposes include, but are not limited to, start-up costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction, renovation or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. The definition of business purpose excludes activities that relate to acquiring or holding passive investments such as commercial real estate ownership, the purchase of securities; and lobbying activities as defined in Section 3(7) of the Lobbying Disclosure Act of 1995, P.L. 104-65, as amended.
• Funds must be used for legitimate business needs: technology, services, equipment, or expansion

Interest Rates

Rates are negotiated with your lender and must follow regulated caps set by the NCUA, OCC, and state law. In most cases, terms are similar to standard commercial rates but easier to qualify for.

Where to Apply

• Visit the SSBCI Loan Guaranty Program page via Louisiana’s official site: LouisianaSSBCI.com – Small Business Loan Guaranty Program
  
• Contact LED directly via email at LEDSSBCI2@la.gov or phone line listed on their site for guidance and lender referrals
  
• Apply through a participating lender—LED maintains an updated list of preferred banks, credit unions, and CDFIs on their site.