BUSINESS FINANCING · LA

Small Business Financing Guide for Lafayette Parish, Louisiana

This guide helps solo contractors, small business owners, and real estate investors in Lafayette Parish, Louisiana understand their financing options. It focuses on the local lenders, credit unions, CDFIs, and community programs that actually serve this region — not just national programs. Whether you have a traditional credit history or rely on an ITIN, there are real pathways here. Read through each section to find the right starting point for your situation.

§ 01 — What it is

What Is Small Business Financing?

Small business financing is money you borrow — or receive — to start, run, or grow a business. It can come as a loan you repay over time, a line of credit you draw from as needed, a microloan for smaller amounts, or a grant you do not have to repay. For contractors in Lafayette Parish, financing might mean covering materials and equipment before a job pays out. For a small landlord or real estate investor, it might mean a purchase loan or renovation funds. For a food vendor or service provider, it might be working capital to bridge a slow season. Financing is not one-size-fits-all. The right product depends on how long you have been in business, what your revenue looks like, whether you have a Social Security Number or an Individual Taxpayer Identification Number (ITIN), and what you actually need the money for. This guide helps you sort through those options with a focus on lenders and programs that are present and active right here in Acadiana.

§ 02 — Who qualifies

Who Qualifies — and How the Lafayette Parish Economy Shapes Eligibility

Lafayette Parish sits at the heart of Acadiana and has one of the most diverse small business economies in Louisiana. The energy sector, healthcare, construction trades, hospitality, and a growing technology corridor all drive local demand. That diversity matters because lenders in this region are accustomed to the income patterns that come with it — seasonal construction cash flow, oilfield service contracts with irregular pay cycles, and hospitality businesses tied to festival seasons. General eligibility factors lenders look at include: • Time in business — most traditional lenders want at least one to two years; microloans and CDFIs often work with newer businesses • Annual revenue and monthly cash flow — showing that you can repay • Personal and business credit scores — but not all lenders require strong scores • Collateral — equipment, property, or receivables can support a loan • Legal business status — sole proprietor, LLC, corporation, or partnership ITIN holders are not excluded. Several lenders serving Lafayette Parish specifically work with business owners who do not have a Social Security Number. You do not need to be a U.S. citizen to access many of these programs. What you do need is documentation showing that your business is real, operating, and generating income. If you are in the trades — plumbing, electrical, roofing, HVAC, concrete — lenders here understand your business model. Bring your contracts, your invoices, and your bank statements. That tells the story even when tax returns are thin.

§ 03 — What you need

Documents You Will Typically Need

Every lender has its own checklist, but gathering these documents before your first conversation will save you weeks of back-and-forth. For most small business loans or lines of credit: • Government-issued photo ID (driver's license, passport, or consular ID) • ITIN or Social Security Number • Business license or registration from the Louisiana Secretary of State • Last two to three years of personal and business tax returns (or one year if you are newer) • Last three to six months of business bank statements • Profit and loss statement — your accountant or bookkeeper can prepare this, or you can use QuickBooks or Wave • Accounts receivable and payable aging reports, if applicable • A brief description of your business and what you need the funds for For SBA-backed loans, add: • A completed SBA borrower application form • Business debt schedule (a list of what you already owe) • Business plan or summary of how the loan will be used For construction or real estate: • Property address and estimated value • Contractor bids or scope of work • Existing mortgage statements, if applicable Tip: Open a dedicated business checking account if you have not already. Mixing personal and business money is the single most common reason lenders in Lafayette decline applications — not bad credit, but no clean paper trail.

§ 04 — Where to start in Lafayette Parish

Local Lenders, CDFIs, Credit Unions, and SBA Resources Serving Lafayette Parish

These are institutions with a real presence in or direct service to Lafayette Parish. Origen Capital is a directory — we do not lend — so we are naming these resources to help you find your own starting point. --- Community Development Financial Institutions (CDFIs) --- • LiftFund (serves Louisiana including Lafayette): A nonprofit CDFI that offers microloans from $500 to $1 million. Specifically designed for underserved entrepreneurs, including ITIN holders and business owners with limited credit history. They offer coaching alongside financing. Website: liftfund.com | Phone: 1-888-215-2373 • Accion Opportunity Fund: Operates across Louisiana and offers small business loans with flexible credit requirements. Known for working with immigrant-owned businesses and ITIN borrowers. Website: aofund.org • Pelican State Credit Union (headquartered in Baton Rouge, branches in Lafayette): A Louisiana state-chartered credit union that offers small business loans and lines of credit to members. Lower barriers than traditional banks. Website: pelicanstatecu.com --- SBA District Office --- • SBA New Orleans District Office: This office covers all of Louisiana, including Lafayette Parish. They administer SBA 7(a) loans, 504 loans, and microloans through local lender partners. They can refer you to SBA-approved lenders in Lafayette. Address: 365 Canal Street, Suite 2820, New Orleans, LA 70130 Phone: (504) 589-6685 Website: sba.gov/offices/district/la/new-orleans • Small Business Development Center (SBDC) at UL Lafayette: Located on campus at the University of Louisiana at Lafayette, this free resource provides one-on-one advising, loan packaging help, and business plan review. They are neutral — they help you find the right lender, not a specific one. Address: 211 E. Devalcourt Street, Lafayette, LA 70503 Phone: (337) 262-5344 Website: louisianasbdc.org --- Local and Regional Banks with SBA Lending Programs --- • Home Bank (headquartered in Lafayette): A community bank based right in Lafayette Parish. Offers SBA 7(a) and conventional small business loans. Long-standing relationships in the Acadiana business community. Website: home24bank.com • Iberia Bank / First Horizon (regional, branches in Lafayette): Offers SBA and conventional commercial lending. Experienced with energy-sector and construction clients. Website: firsthorizon.com • Investar Bank (Lafayette and surrounding parishes): A community bank with local decision-making. Small business and commercial real estate loans. Website: investarbank.com --- ITIN-Friendly and Emerging Lenders --- • Kiva U.S. (crowdfunded microloans): Offers 0% interest loans up to $15,000 through a peer-lending platform. No credit score required. ITIN accepted. Particularly helpful for very small or startup businesses. Website: kiva.org/borrow • Camino Financial: An online lender that explicitly serves Latino-owned businesses and accepts ITIN. Not a bank, but a licensed lender. Review terms carefully before applying. Website: caminofinancial.com --- State and Local Programs --- • Louisiana Economic Development (LED) – Small Business Loan Program: The state offers several financing tools including the Louisiana Small Business Loan Program and the Restoration Tax Abatement for property improvements. LED can also connect you to regional economic development contacts in Lafayette. Website: opportunitylouisiana.gov • Lafayette Economic Development Authority (LEDA): LEDA is the primary economic development agency for Lafayette Parish. They do not lend directly but can connect you to financing resources, site selection help, and workforce programs. Worth a call before you start shopping for a loan. Phone: (337) 593-1400 | Website: lafayette.org

§ 05 — What to avoid

Louisiana State-Specific Regulatory Notes

Louisiana has its own rules that affect how you borrow and how you operate, and Lafayette Parish adds one more layer. Here is what you should know. • Louisiana Usury Law: Louisiana caps interest rates on certain types of consumer and small business loans. If a lender is quoting you a rate that feels extreme, check it against state usury limits. The Louisiana Office of Financial Institutions (OFI) regulates state-chartered lenders. Website: ofi.la.gov | Phone: (225) 925-4660 • Business Registration: Your business must be registered with the Louisiana Secretary of State before most lenders will work with you. LLCs and corporations file here. Sole proprietors operating under a trade name file a DBA (doing business as) with the clerk of court in Lafayette Parish. Louisiana Secretary of State: sos.la.gov • Contractor Licensing: If you are in the trades, you must hold the appropriate state contractor's license through the Louisiana State Licensing Board for Contractors (LSLBC). Some lenders will ask for proof of licensure before approving construction-related loans. Website: lslbc.louisiana.gov • Louisiana Community Reinvestment Act (CRA) Obligations: State-chartered banks in Louisiana are subject to CRA requirements that encourage lending in low-to-moderate income areas. You can use this fact when approaching local community banks — they have regulatory incentives to lend in underserved parts of Lafayette Parish. • Hurricane and Disaster Loan History: Louisiana is no stranger to disaster declarations. If you have a prior SBA disaster loan (from Ida, Delta, or earlier storms), lenders will see it. Be transparent about this. SBA disaster loans are not a black mark — lenders in Acadiana understand the context. • Lafayette Parish Sales Tax and Business License: Operating in Lafayette Parish requires a parish occupational license and compliance with local sales tax. Your LEDA contact can point you to the Lafayette Consolidated Government for local licensing. Website: lafayettela.gov

§ 06 — Ask a question

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§ 07 — Part of The Legacy Bridge Network

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