Small Business Grants in Louisiana (LA)
Securing a small business grant in Louisiana involves identifying the right opportunities, understanding the eligibility criteria, and preparing a compelling application. Here are some of the most relevant grant opportunities for small businesses in Louisiana:
Louisiana Nonprofit and Small Business Assistance Program
This program provides funding to eligible nonprofits and small businesses to provide aid or assistance to individuals impacted by the COVID-19 pandemic.
State Trade Expansion Program (STEP) Grants
These are financial grants awarded by the Small Business Administration (SBA) to small businesses.
SBIR and STTR Grants
These are federal grants aimed at supporting small businesses in conducting research and development (R&D) that has the potential for commercialization.
Zach Grant and Amber Grant for Women
These are specific grants aimed at supporting businesses owned by women.
Restore Louisiana Small Business Loan Program
This is a federally funded lending program that provides assistance for non-construction expenses to small businesses.
Louisiana Innovation Retention Grant Program
This program offers awards of up to $100,000 for eligible businesses, particularly research-focused start-ups.
Rural Business Development Grants
These grants are aimed at supporting community projects that serve rural areas in Louisiana.
Louisiana Main Street Recovery Grant Program
This program provides grants to businesses that were adversely impacted by the COVID-19 pandemic.
Grant Application Considerations
Each of these grant programs has its own specific eligibility criteria and application process. For example, the Louisiana Innovation Retention Grant Program requires applicants to be for-profit, privately owned businesses based in Louisiana that received federal notice of a Phase I or Phase II award in 2022. The Louisiana Main Street Recovery Grant Program, on the other hand, requires businesses to have been domiciled in Louisiana as of March 1, 2020, and to have suffered an interruption of business due to the COVID-19 pandemic.
Preparing Your Grant Application
When applying for these grants, it’s important to thoroughly research the specific requirements of each program, prepare a detailed business plan, and provide all necessary documentation. This may include demonstrating financial need, providing evidence of job creation at local businesses, and showing consistency with local economic development priorities.
Additional Resources
In addition to these grant programs, there are also several resources available to help small businesses in Louisiana. These include the Small Business Development Center (SBDC), SCORE, and the Louisiana Economic Development (LED) Small Business Services team, which offers nearly a dozen programs supporting a range of small businesses.