Certifications

Select Certification DBE MBE WBE SBE DVBE HUB Section 3 ELBE SLBE

State

Select a State Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming

BuildNOLA announces $1.5 million loan pool

The BuildNOLA program for the City of New Orleans has established a $1.5 million loan pool for the benefit of disadvantaged businesses that are able and willing to perform work on city contracts, yet also do not have the financial capacity to absorb delays in payment.

NewCorp, a nonprofit organization that works to provide business support to disadvantaged businesses, is contributing $250,000 to the loan pool, with the remaining $1.25 million being provided by Living Cities, an organization that works to improve the economic well-being of low-income people in a number of cities across the nation.

Since November 1st, eligible disadvantaged businesses can apply at NewCorp’s offices in New Orleans.

The BuildNOLA program, which was established last year, has provided procurement and bid training to four disadvantaged businesses to date. The new loan pool is meant, in part, to make the training BuildNOLA offers even more of a practical proposition for other disadvantaged businesses.