Small business lenders in Louisiana provide exceptional access to necessary capital.
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Biglaw Investor connects you with small business lenders who can help you expand your business, whether through working capital or via acquisition. A small business loan loan is a great way to grow your business—but it can be hard to know where to start. Our small business lenders offer an experience specially tailored to your goals.
Offered exclusively through Biglaw Investor, we make it incredibly simple to find the best loan for your business needs.
I’m an associate at a firm in Houston and used JD Mortgage thanks to your advice! The experience was great—they were super fast and responsive.” —Mary Kate Raffetto Beck Redden LLP
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Located in the Deep South is the state of Louisiana, one of the most affordable places to live and build a business. The state is perhaps most well known for New Orleans, its largest city and a popular tourism destination. Baton Rouge is the state’s capital. Known as the Bayou State, the Sportsman’s Paradise, and the Pelican State, Louisiana is very diverse. Louisiana has deep marshes and coastal wetlands along its southern shore on the Gulf of Mexico. For the 4.6 million people that live here, the state is quite unique, with areas of very low income and areas of wealth.
A large portion of Louisiana’s economy is focused on tourism, at least in the coastal areas of the state. There is also a strong oil and natural gas industry, agricultural production industry, and a port. The Port of South Louisiana was the largest bulk cargo port in the U.S. A number of large companies call this state home, but it is also home to numerous small businesses. The U.S. Small Business Administration states there are 47,120 small businesses operating in the state today. Those companies range in terms of industry and services they offer, but they provide 905,726 jobs, making up nearly 20% of the state’s workforce and generating a payroll of $38,724,582.
To maintain operations, it is often necessary for companies to turn to small business lenders in Louisiana for capital. There are a total of 963 small business loans active in the state, according to the most recent three years of data from the U.S. Small Business Administration. These loans have a total volume of $744,795,366, with an average loan size of $773,412. These funds can be used to meet many needs of these companies, including the growth and development of their businesses. Lenders are a critical asset in supporting those organizations.
A small business loan is a type of funding to provide companies with access to the capital they need for various challenges, growth opportunities, and expansion efforts. These loans are provided in a variety of forms to companies, typically with under 100 employees.
Small business owners need to have a basic idea of what they want to achieve with the loan amount so that this can be indicated on their application. Louisiana small business loans are available to many kinds of entrepreneurs and small business owners, but some advanced research is recommended to make sure you know all your options. You might even look into offices for Louisiana economic development to see if there are assistance programs or loan options available to you.
In most cases, start-up businesses will have limited access to loan options because many lenders see these as unproven entities. To feel confident that someone can make repayment, it’s good to show that some revenue is already coming in to open the range of financing options for your cash flow.
Small business lenders in Louisiana are a diverse group of people ranging from private lenders to large banks and credit unions. These lenders provide these loans to companies who need them in return for repayment with interest. The interest rates charged to many small businesses tend to be rather competitive, and they may even be very affordable for what they can offer the company.
However, lenders are taking on a substantial amount of risk by providing these loans. For that reason, most will have strict requirements and standards. Many require companies to provide a business plan, which outlines the company’s operation, costs, services and products, and competitors. It helps to break down the ownership and management of the company, provides revenue information, and often includes insight into the company’s future growth plans.
Most Louisiana small business lenders also will require the company to have a demonstrated ability to make payment on the borrowed funds. They use the company’s revenue as well as credit history to make that decision. If the company does not have an established credit history, the lender may allow for the use of the business owner’s personal information.
In all situations, this information allows the lender to determine if the loan is a good risk. There are some financial assistance programs or grants your company may be eligible for as a start-up, so reach out to the Louisiana Small Business Development Center to learn more about those options.
When you’ve done your research and determined that you can’t get the financial assistance you need from credit cards, contact financial institutions to discuss a loan application instead.
If the lender decides to move forward with the loan, they will set the terms and conditions. Most small business loans in Louisiana are for 5 to 10 years, though longer loans may be available. The interest rate is dependent on the qualifications of the borrowers. The lender also may offer more than one type of loan, depending on the unique needs of the borrower. Some examples of loans you will likely find available here include:
With access to small business loans, companies have the ability to grow and develop into more successful organizations. Yet, to do this, they often need to work with the best lenders in Louisiana for small businesses.
| Rank | Bank Name | # of Louisiana Loans | Avergage Interest Rate | Average Loan Size |
|---|---|---|---|---|
| 1 | Fidelity Bank | 29 | 5.94% | $314,041 |
| 2 | b1BANK | 20 | 5.17% | $436,450 |
| 3 | Newtek Small Business Finance | 19 | 6.59% | $768,868 |
| 4 | Cadence Bank | 18 | 5.15% | $613,444 |
| 5 | Gulf Coast Bank | 18 | 5.64% | $637,022 |
| 6 | Live Oak Banking Company | 16 | 5.21% | $1,627,312 |
| 7 | American Bank & Trust Company | 12 | 5.63% | $383,925 |
| 8 | Red River Bank | 12 | 5.25% | $273,425 |
| 9 | Hancock Whitney Bank | 11 | 5.50% | $584,145 |
| 10 | Citizens Bank | 10 | 5.65% | $723,240 |
Formed in 1908, Fidelity Bank has over 100 years of experience to meet the needs of its customers throughout Louisiana. By offering products like small business loans, personal checking, and business checking, among other products, Fidelity Bank is able to provide financial services to meet customers’ needs.
We reached out to Fidelity Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Based out of Baton Rouge, Louisiana, b1Bank began offering services to the community in 2006. With free standing locations throughout Louisiana and ATMs all over the country, b1Bank makes getting access to your accounts easy, including small business loans and personal and business checking accounts, and other products.
We reached out to b1BANK to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Newtek offers a number of services for businesses to help them to meet their financial needs. Products such as loans, cloud solutions, IT security, payment processing, payroll, and options when it comes to disaster recovery are available to protect and help a business to thrive and grow.
We reached out to Newtek to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Started in 1876, Cadence Bank has almost 150 years of experience in helping its customers in Mississippi, Texas, Florida, Missouri, Tennessee, Florida, Georgia, Alabama, Arkansas, and Oklahoma meet their needs. Cadence Bank offers a number of tools, including small business loans and personal banking tools like checking and savings accounts.
We reached out to Cadence Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
Based out of Baton Rouge, Louisiana, Gulf Coast Bank & Trust offers a number of ways to help its customers. One of those ways is through business loans and the number of different products they offer to meet business needs, including real estate, refinancing, and franchising.
We reached out to Gulf Coast Bank to see if there were any advantages to working with them during the SBA loan process. Here is what they told us:
When you’re ready to connect with an experienced SBA loan officer, use our form to quickly match with SBA loan programs based on your specific circumstances.
To be successful, small companies often need a bit of a helping hand. While business loans are one tool, there are other resources that can also be very valuable to these companies. Here are a few free resources to consider.
The Small Business Administration in Louisiana is a solid place to start. You can visit local offices, but you can also find a wide range of detailed information on their website. This includes information about obtaining SBA loans, but also information on building credit, managing growth, incorporating, taxation requirements, and much more. It is a simple, highly accurate resource any business can rely on.
Another very important tool is SCORE, a program that is set up with business experts that work very closely with business owners to offer guidance and support. There are training and educational programs available, as well as webinars and seminars. This is a resource that is hard to beat when it comes to establishing and growing your business over time. There is no cost to using it either.
If you want to find the best small business loans in other states, click on your state below.
Joshua Holt is a lawyer and founder of Biglaw Investor. He spent 10 years practicing private equity mergers & acquisition law for one of the largest law firms in the country. As part of his practice, he advised small and medium sized businesses on matters ranging from business loans to the acquisitions and divestitures of stocks and assets.
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