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.

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