Louisiana HR356 urges Louisiana Economic Development to study the benefits of creating a minority business development fund.
Louisiana HR356 requests Louisiana Economic Development to study the benefits of creating a minority business development fund. The fund would provide loans for working capital, equipment, leasehold improvements, inventory, technology, business acquisition, and debt refinancing. The study aims to address systemic barriers to capital access faced by minority-owned businesses, which include discriminatory lending practices, lower collateral asset bases, and lack of access to traditional financial networks.
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