Baton Rouge

In a new partnership with the City of Baton Rouge, seven Baton Rouge banks and credit unions, and Entergy, Seedco Financial is managing a new $2.5 million loan fund. The Baton Rouge Small Business Loan Fund is designed to serve small businesses that previously have been unable to obtain start-up or operational financing through traditional sources. Seedco Financial was selected after a competitive bid process and has opened a Baton Rouge office to oversee the new initiative.

The Loan Fund provides below-market-rate loans ranging from $5,000 to $150,000 with flexible repayment terms to eligible Baton Rouge entrepreneurs who employ fewer than 50 employees. Successful applicants must be based in the City of Baton Rouge and East Baton Rouge Parish.

Partners
Seedco Financial's funding will match a city government commitment and that of Baton Rouge banks, credit unions and corporations. Thus far eight private contributing partners have committed funds, including: Capital One Bank, Entergy, Liberty Bank, La Capitol Federal Credit Union, Neighbors Federal Credit Union, Omni Bank, Regions Bank, and Whitney Bank.

Southern University at Baton Rouge and Louisiana State University are participating in the program by providing outreach and technical assistance through their Small Business Development Centers. Seedco Financial will identify other local community and faith-based partner organizations to work on the project and will put together a local advisory board to provide policy guidance.

Policy Board
The Baton Rouge Policy Board guides the efforts to implement the Loan Fund. It comprises local leaders of financial institutions, universities, city and state government, and local corporations and community organizations who share a deep understanding of the needs of Baton Rouge.