Southeast Louisiana Fisheries Recovery Initiative The Seedco Financial Southeast Louisiana Fisheries Initiative was created in response to the wide-spread effects that hurricanes Katrina and Rita had on the fishing industry. The primary component of this iniative is a recovery loan fund focused on businesses located in several particularly hard-hit areas of the city and surrounding parishes. Additionally, technical assistance and financial services wll be provide through the Southeas Louisiana Fisheries Assistance Center Key features/terms of the loan fund include: Loans of $5,000 to $200,000 Term loans available for working capital, equipment purchases, insurance purchases, refinancing, improving leased/owned space, and for costs associated with creating, sustaining or expanding a business. Bridge loans are also available in some cases. Below-market rates (7% to 9%) Extended payback periods on term loans (3 to 7 years) Tailored to the businesses’ specific needs. Eligibility: Dock owners, shrimpers, fisherman and supporting businesses in Orleans Parish, Plaquemines Parish, and on the West Bank in Jefferson Parish. Eligible businesses are those that employed 50 people or fewer at the time of the storms, have been adversely impacted by the storms, were operating for at least one year prior to the storms, possessed a solid customer base, and demonstrated the ability to handle debt. Call (504) 520-5729 or email GulfCoast@seedco.org to discuss your business's situation. Agency: Seedco Financial Services Gulf Coast Division/Xavier University Telephone: (504) 520-5729 Web: http://www.seedcofinancial.org Last Updated: Sep 11, 2007 Click the tab to get listed to request that new information be added to the guide. To report an inaccuracy, or to request more information, please send us feedback.