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Acadiana Regional Development/55+ Program

Acadiana Regional Development/55+ Program

601 Loire Avenue Ste C Lafayette LA

About

Acadiana Regional Development District is an authorized re-lender in a U.S. Department of Agriculture program designed to impact rural areas by creating or saving jobs through loans to new or existing businesses. Loans will fund up to 75% of new business or expansion projects, and range from $10,000. to $150,000. Lending rates are computed at simple interest and generally below market rates and there are no penalties for early repayment. Suggested lending terms range from 3 to 5 years for working capital; 7 to 10 years for fixed assets; and 8 to 12 years for real property. Cash flow of operations must support repayment of the loan. A complete list of requirements and fees is listed in the loan application. The following is a list of other programs: WIA OLDER WORKER PROGRAM assisting individuals 55 and over to get individual classroom training, work (part or full time), or on the job training and job search assistance. Assistance with travel expenses, while attending class, or other support service as needed. Participants must meet the income eligibility, provide I.D., Driver’s License, Social Security Card, Birth Certificate, Proof of Income, and Voter Registration. SMALL BUSINESS REVOLVING LOAN FUND PROGRAM This program is sponsored by the US Dept. of Commerce’s Economic Development Administration and is designed to create jobs, stimulate economic growth and fill a gap in financing. Loans range from $15,000 to $150,000 and are available based on a project to open a business, purchase or improve an existing business, create jobs or save jobs. The program is open to residents within rural areas of Region IV area. Must complete loan application; verification of collateral (legal); business plan (detailed); personal and business financial statements. Application processing fee $75 and $25 credit report fee. Call for additional criteria. ENTREPRENEURIAL TRAINING PROGRAM- Program offers comprehensive introductory training in entrepreneurship, strategic thinking and business planning. Areas of study include: entrepreneurship, identifying business opportunities and problems, personal budgeting, financial statements, finding the perfect business, developing a business plan, financing the small business, leadership, management, supervision, strategic planning, sales and customer relations, bookkeeping, identification of legal forms used in small business, organizing for success, completing loan packet, financial counseling, job search, self assessment, marketing self, interviews, resume writing, letter writing, and computer training (as needed). WIA criteria must be met to be eligible; I.D., 3 forms of identification, proof of income, complete WIA application, Complete interview with ARDD staff. Other services are disabled access, placement assistance, child care, special occupational and career development services for WIA and older worker participants, mentoring and follow-up case management life skills. LOUISIANA DEPT. OF ECONOMIC DEVELOPMENT COMMUNITY INITIATIVE ENTREPRENEURIAL PROGRAM: Program offers comprehensive introductory training in entrepreneurship, strategic thinking and business planning. Areas of study include: entrepreneurship, identifying business opportunities and problems, personal budgeting, financial statements, finding the perfect business, developing a business plan, financing the small business, leadership, management, supervision, strategic planning, sales and customer relations, bookkeeping, identification of legal forms used in small business, organizing for success, completing loan packet, financial counseling, job search, self assessment, marketing self, interviews, resume writing, letter writing, and computer training (as needed). LDED criteria must be met to be eligible; I.D., 3 forms of identification, proof of income, complete LDED application, Complete interview with ARDD staff. Must have child under 19 years of age in the household and must produce ID on child/children. Other services are disabled access, placement assistance, child care, special occupational and career development services for WIA and older worker participants, mentoring and follow-up case management life skills.

Details

Contact Name: Stan McGee

Cost of Services: Call for application fee

Eligibility Requirements: Any US citizen meeting the criteria for the various programs

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Stan McGee

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