Entrepreneurial Services

Bonding Assistance Program (BAP)

Assists qualified Small and Emerging businesses with acquiring performance and payment bonds from surety companies at reasonable rates when they require a quality bid
Following approval of bonding assistance by the surety company, BAP provides collateral to the surety company of up to 25 percent of the base contract amount, or $200,000, whichever is less

Mentor Protégé Tax Credit Program

Enhances Louisiana's business environment for new construction companies by providing technical and economic benefits to Louisiana-based contractors who will create and/or retain jobs
Established construction companies are to mentor the development of protégé firms as competitive contractors, subcontractors and joint venture partners
Mentor firms can receive Louisiana income or franchise tax credits of up to $50,000 per year by making technical assistance available to a protégé firm
Firms must be approved as a Mentor or Protégé by submitting an application to Louisiana Economic Development

Microenterprise Development Program (MED)

Offers moderate and low-income individuals a viable alternative to minimum-wage labor and public assistance by providing self-employment training
Once an initial comprehensive assessment is completed, participants begin a two-to-three month business development course that includes entrepreneurship training, personal effectiveness, financial literacy, technical assistance, and writing a business plan
Participants are eligible for up to $4,000 available to secure a line of credit, covering or supplementing start-up business costs

Small and Emerging Business Development Program (SEBD)

Supports Small Business Development Centers (SBDCs) that help small businesses by offering the training, technical and managerial assistance they need
Developmental assistance includes entrepreneurial training, marketing, computer skills, accounting, business planning, legal and industry specific assistance
Among other qualifications, at least 51 percent of a participating company must be owned and controlled by one or more Small Emerging Business Persons

For more information on these Programs, please visit Louisiana Economic Development.