Business in Jefferson Parish
SBA 504
ABOUT THE
SBA 504 LOAN
The JEDCO SBA 504 Loan Program helps business owners start up, grow, and thrive. Your business doesn’t have to be in Jefferson Parish to take advantage of this program. JEDCO’s SBA 504 Loan Program crosses Parish lines and can support a business located anywhere in Louisiana. Over $42 million SBA dollars have been issued in loans to small businesses through JEDCO’s financing arm.
- Purchase, renovation and construction of commercial property
- Purchase of new or used equipment or machinery
- Debt refinance of fixed assets
- JEDCO Loan application (link)
- Personal financial statement (link)
- 2 year personal tax returns
- Business Plan
- 2 years monthly revenue and expensive projects with assumptions
- Requested loan amount and how the funds will be used
- Loan Application (PDF link)
- Personal financial statement (PDF link)
- 2 year corporate tax returns**
- Interim financial statements
- 2 years personal tax returns for all owners and guarantors
** if tax returns are not prepared for most recent fiscal year, then application package must include year-end company-prepared balance sheet and income statement
- Download the Eligible Costs Worksheet
- Download the Loan Application Package Checklist
- Download the Personal Financial Statement
- Download the JEDCO Loan Application
LOAN HIGHLIGHTS
PROJECT SIZE: $200,000 – $15m+
LOAN TERM: Up to 25 years
- Borrower equity as low as 10%
- Below-market fixed rate
- New businesses are eligible borrowers
- Approvals using projected revenues
- Can finance “special purpose” properties
Be prepared to make it happen
The SBA 504 loan supports long-term, fixed-asset financing for projects such as land acquisition, owner-occupied building purchases, new construction, facility expansion, and major equipment purchases. The program is designed to help businesses secure stable, affordable capital for growth.
The loan typically includes three parts: a first mortgage from a private lender, a second mortgage funded through the SBA 504 program, and an equity contribution from the borrower. JEDCO assists with the SBA portion of the financing.
Most for-profit businesses located in Jefferson Parish and meeting SBA size standards are eligible. Companies must occupy at least 51 percent of an existing building or 60 percent of a new construction project.
Borrowers can access fixed interest rates, long repayment terms, and lower down payments compared to conventional loans. This structure allows companies to preserve working capital while investing in long-term assets.
The SBA portion of the loan generally offers 10-, 20-, or 25-year terms, depending on the type of asset being financed. Longer terms help reduce monthly payments and improve cash flow.
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Success Stories
Leaaf Environmental
A custom blender of dry ingredients, specalizing in spices, seasonings and breading mixes.
– Loan Amount: $2,200
– Total Project Cost: $880,000
– Project: Purchase of land and commercial building used for their operations.
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Success Stories
Quatto Graphics
A recognized leader in soil, groundwater and air quality investigations in Louisiana and throughout the Gulf Coast. Leaaf worked with JEDCO to open its new headquarters in Gretna in 2020.
– Loan Amount $400,471
– Total Project Cost $1,002,280
– Project: Purchase land and renovate building for operations
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Success Stories
Quatto Graphics
A sign and print shop offering a variety of printing items and services.
– Loan Amount $264,000
– Total Project Cost $660,000
– Project: Purchase land and renovate building for operations, furniture, fixtures and equipment included
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Success Stories
Creative Dance & Music Studio
– Dance and music studio offering classes for all ages from toddlers to competition-level students.
– Loan Amount: $616,000
– Total Project Cost: $1.5 million
– Project: Land purchase and construction of dance and music studio in Harvey, LA. This small business owner was able to stop leasing and own her own building with a 504 loan.
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Success Stories
Starr Textiles
– Regional service provider for hospitality industry, offering services in commercial laundry, dry cleaning, garment processing and textile rentals.
– Loan Amount: $4.4 million
– Total Project Cost: $10.7 million
– Project: Land purchase and construction of a 70,000 square-foot, state-of-the-art commercial laundry facility in Elmwood, LA. Financing includes purchase and installation costs of equipment.
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Success Stories
Impastato Chiropractic
– Clinic providing chiropractic cure and wellness coaching for long-term, life-improving pain relief.
– Loan Amount: $258,000
– Total Project Cost: $700,000
– Project: Purchase and renovation of commercial property in Metairie, LA for use as chiropractic clinic. A portion of the property is leased to other small business owners. The larger facility provides future expansion opportunities.
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Success Stories
Boil Seafood House
– A new restaurant in New Orleans’ Garden District specializing in seafood boiled in Vietnamese-style.
– Loan Amount: $512,000
– Total Project Cost: $1.5 million
– Project: Purchase of land and full renovation of nationally-registered historic building for use as a restaurant.
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Success Stories
Las Cruces Tex Mex
Las Cruces Tex Mex, located in Metairie, LA, is your go-to destination for a delightful fusion of Tex Mex flavors and Mexican culinary traditions.
– Loan Amount $2,302,950,000
– Total Project Cost $7,609,886
– Project: Debt refinance; purchase land and renovate building for operations.