CDC’s Financial Services Division, through its affiliates, the Ark-La-Tex Investment and Development Corporation and the Red River Valley BIDCO, Inc., provides business financing by means of several different programs.
USDA Intermediary Revolving Loan (IRP) Program
CDC’s USDA Rural Development’s Intermediary Relending Program makes available funding for qualified new and expanding businesses located in the rural areas of the ten-parishes served by CDC in Northwest Louisiana. The focus of this program is to create or retain jobs. Loan amounts range from $10,000 up $150,000 (75% of project costs). The program supplements private lenders’ efforts by either participating with them on special financing projects or by direct loans to borrowers who cannot qualify under private lenders’ rules.
Red River Valley BIDCO, Inc.
Red River Valley BIDCO, Inc., is a for-profit corporation incorporated in Louisiana, and licensed by the State of Louisiana, Office of Financial Institutions, as both a Certified Louisiana Capital Company and a Business and Industrial Development Corporation. It also is recognized as a Louisiana Community Development Financial Institution. The BIDCO can provide loan funds for business, industry, and job creation by supplementing private lenders’ efforts by either participating with them on special financing projects or by direct loans to the borrower who cannot qualify under private lenders’ rules. Maximum loan amount is $3 million.
Tri District Development Corp. Loan Program
TDDC provides long-term rate financing, both fixed and flexible, to qualified businesses in the twenty-nine (29) parishes of North Louisiana. Staffed through CDC’s offices in Shreveport and sister organizations in Monroe and Alexandria, TDDC provides business development financing for companies creating long-term permanent employment, primarily in the rural regions of North Louisiana.
For more information, contact Candle Sattler, Vice-President of CDC’s Division of Financial Services, (318) 632-2022.