In recent years loans have become more restrictive and difficult to obtain, especially for small businesses. We believe that small businesses in Louisiana require simpler access to capital. In response The New Orleans BioInnovation Center has established the New Orleans BioFund.
New Orleans BioFund was kick started with funding from the U.S. Department of Housing and Urban Development and the Office of Community Development- Disaster Recovery Unit (OCD-DRU) to provide capital to startup companies looking to achieve growth, thereby increasing their potential for contribution to the economic development of Louisiana.
What we do:
Our goal is to assist companies in acquiring the capital needed to achieve milestones that will enable them to create more jobs and economic opportunities in Louisiana. The New Orleans BioFund provides low interest loans with flexible repayment terms to qualifying small businesses and startups. The application process is simple and there are no hidden closing costs.
How you benefit:
- Low interest rates
- Flexible loan terms
- Loan range from $50,000 to $250,000
- Flexible payment options
To learn more, contact Kris Khalil, New Orleans BioFund Manager, at firstname.lastname@example.org.
To provide legal services associated with loan closings under the Louisiana Innovation Loan and Technical Assistance Program (ILTAP), download our RFP.
Office of Community Development - Louisiana Disaster Recovery Unit
U.S. Department of Housing and Urban Development