Bonding Assistance
How can I access the default mitigation funds?
Reach out to a participating bonding agent to determine bonding capacity and request necessary application. Complete surety application and submit to the surety company for underwriting. Based on the underwriting decision, the surety company will issue the default mitigation funds to an account managed by the funds control entity on behalf of the contractor that can be accessed after the first draw on the contract.
Can I use the default mitigation funds for mobilization?
No, it can only be accessed between draws and cannot be used for mobilization.
Can this program help me if I am able to get limited bonding capacity?
Yes, the bond guarantee could help the surety increase your aggregate bonding capacity.
What surety companies and surety agents can I contact after I get SEBD certified?
The surety company and agents that signed on for the Bonding Assistance Program can be found here. If you already have a surety agent, your agent can contact a surety company for approval to work with the Bonding Assistance Program.
How do I qualify for the Bonding Assistance Program?
You will need to apply for the Small and Emerging Business Development (SEBD) Program in order to qualify for the Bonding Assistance Program and then contact your bonding agent to start the underwriting process with the surety company.
I haven’t gotten my contractor’s license yet. Are there any programs that can help me get my license?
Yes, the Louisiana Contractors Accreditation Institute, a partnership between Louisiana Economic Development, Louisiana Community and Technical College System and the Louisiana State Licensing Board for Contractors, offers access to training across the State with focus on expanding understanding of the construction industry.
How does the Bonding Assistance Program work?
The Bonding Assistance Program provides collateral to the surety that could mitigate the surety’s risk and result in issuance of required bonding capacity.
Does this program write surety bonds?
This program does not write surety bonds and does not participate in the surety company’s underwriting procedure. The Bonding Assistance Program is a source of collateral to mitigate risk to the surety company.
What type of surety bond does the Bonding Assistance Program cover?
The Bonding Assistance Program covers bid bonds (guarantee that a contractor will enter into a contract if awarded the bid), performance bonds (guarantee that a contractor will perform the work as specified by the contract) and payment bonds (guarantee that a contractor will pay for services and materials).
What is a surety bond?
A surety bond is a promise to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal’s failure to meet the obligation. For more information on what a surety bond is, please visit the following booklet online.
CEO Roundtables
As the leader of an Entrepreneur Support Organization, why should I refer my clients to CEO Roundtables?
Referring clients to other state-supported services such as CEO Roundtables can help build trust, increase effectiveness and strengthen the entrepreneurial culture in Louisiana.
How much time should I plan to dedicate to this engagement?
Participation in the roundtables themselves will consist of 10 four-hour monthly sessions, but participants should also plan to dedicate the time required to reflect on roundtable discussions and complete preparation work (homework assignments) for each table.
How long does the program last?
The entire length of the program is between ten and twelve months.
What are the services offered through CEO Roundtables?
CEO Roundtables bring together groups of 15 to 18 key decision makers together 10 times a year for peer-to-peer learning, business networking and support. These collaborative, growth-oriented meetings support a trusting environment in which CEO’s can safely explore business and personal issues. The roundtables are problem-solving sessions that address issues important to business owners. The value of the roundtables come from access to likeminded entrepreneurs and experienced facilitators, each of whom can offer direction based on first-hand experiences.
What is the cost to participate in CEO Roundtables?
There is no cost to participate in CEO Roundtables.
Does meeting all of the eligibility requirements for LED’s CEO Roundtables guarantee my acceptance into the program?
No. Due to high demand and limited capacity, eligibility does not guarantee acceptance into LED’s CEO Roundtables.
What is an eligible company for CEO Roundtables?
A company that is past the start-up phase, has not yet reached maturity and is poised for significant growth. Typically, these are second-stage growth companies with annual revenues of $600,000 to $50,000,000 that employ between five and 99 employees and have demonstrated the desire, ability and capacity to grow.
What are CEO Roundtables?
CEO Roundtables are peer groups that give executives the opportunity to discuss business practices and management strategies with peers who deal with similar growth challenges.
Diversity in Entrepreneurship Initiative
As the leader of an Entrepreneur Support Organization, why should I refer my clients to the Diversity in Entrepreneurship Initiative program?
Referring clients to other state-supported services such as the Diversity in Entrepreneurship Initiative can help build trust, increase effectiveness and strengthen the entrepreneurial culture in Louisiana.
How much time should I plan to dedicate to the Diversity in Entrepreneurship Initiative?
Participation in the program will consist of 12 hours of group time and another 10-12 hours of individual time with specialists spread over at least four months.
What are the services offered through the Diversity in Entrepreneurship Initiative?
The Diversity in Entrepreneurship Initiative consists of three components – a virtual kickoff retreat workshop spanning two hours for each of the three consecutive days, three monthly virtual roundtable sessions for peer-to-peer learning, and a customized Strategic Research engagement scheduled individually for each participant.
What is the cost to participate in the Diversity in Entrepreneurship Initiative?
The program is wholly funded by LED.
Does meeting all of the eligibility requirements for LED’s Diversity in Entrepreneurship Initiative guarantee my acceptance into the program?
No. Due to high demand and limited capacity, eligibility does not guarantee acceptance into LED’s Diversity in Entrepreneurship Initiative.
What is an eligible company for the Diversity in Entrepreneurship Initiative?
A Louisiana-based, small business that is past the start-up phase, has not yet reached maturity and is poised for future growth. Typically, these are second-stage growth companies with annual revenues of $600,000 to $50,000,000 that employ between five and 99 employees and have demonstrated the desire, ability and capacity to grow.
What is the Diversity in Entrepreneurship Initiative?
LED’s Diversity in Entrepreneurship Initiative, delivered in partnership with the Edward Lowe Foundation, aims to accelerate business growth for minority-and woman-owned companies in Louisiana.
Financing and Capital
What is the SBIR/STTR federal program?
The Small Business Innovation Research (SBIR) program is a highly competitive program that encourages small businesses to engage in Research and Development (R&D) and provides funding for projects that have the potential for commercialization. Technical assistance and additional information can be received by contacting the Louisiana Business & Technology Center.
The Small Business Technology Transfer (STTR) program expands funding opportunities in the federal innovation research and development (R&D) arena. The goal of the STTR program is to facilitate the transfer of technology developed by a research institution through the entrepreneurship of a small business concern. Technical assistance and additional information can be received by contacting the Louisiana Business & Technology Center.
What state or federal grants are available to small business owners?
Typically there are no grants at the state or federal level to start or operate a small business. Announcements for counseling and training grants appear on www.grants.gov. Additional federal grant information can be found at www.cfda.gov.
What is the difference between a direct loan and a loan guarantee?
A direct loan is an arrangement in which a lender gives money or property directly to a borrower, and the borrower agrees to return the property or repay the money, usually along with interest, at some future point(s) in time. Usually there is a predetermined time for repaying a loan, and generally the lender has to bear the risk that the borrower may not repay a loan (though modern capital markets have developed many ways of managing this risk). A loan guarantee is a loan backed by a government agency which undertakes to repay a loan in case the borrower defaults. Typically, student loans and business startup loans are guaranteed loans.
General
Where can I get advice about starting a business?
The Louisiana Small Business Development Centers and your local SCORE chapter provide business counseling and planning services.
How do I get a small business loan?
Small business loans can be secured by contacting accredited lending institutions (including banks, credit unions, and micro-lenders) and completing a loan package. Free assistance to develop a loan package can be found at a Louisiana Small Business Development Center.
Where can I get certified as a minority-owned business enterprise (MBE) or woman-owned business enterprise (WBE)?
The minority-owned business enterprise certification is available through the Louisiana Minority Supplier Development Council. The woman-owned business enterprise certification is available through the Women Business Enterprise Council of the South. Browse our Grow a Business Page for more information on these certifications.
What incentives or tax credits are available for my small business?
There are numerous incentives available to Louisiana businesses.
Where do I get a Federal Tax ID Number (FTIN) and State Tax ID Number?
Federal tax identification numbers are issued by the U.S. Internal Revenue Service. State sales tax identification numbers are issued by the Louisiana Department of Revenue.
Growing a Business
What is the LED Digital Media tax credit, and how do I get more information?
Louisiana’s Digital Interactive Media and Software Development tax credit – the strongest of its kind in the nation – is helping digital media and software development companies of all sizes gain a competitive edge. Read more about this tax credit and other LED incentives.
How do I get started exporting my product(s) or service(s)?
The U.S. Commercial Service, U.S. Export Assistance Center, and the World Trade Center are great allies for any business owner who is trying to develop an international market for their product or service. You can start by contacting them or just browsing the resources and information available on their websites. In addition, if you qualify for the State Trade and Export Promotion (STEP) program, you may be eligible to receive up to $9,000 to help you participate in export development activities. Browse our Grow a Business Page for more information on these international trade resources.
How can I market my business to the state government?
The Hudson and Veteran Initiative certifications are a great way for eligible companies to gain greater access to state contract and purchasing opportunities. You can also register your business as a vendor with the Office of State Purchasing, so they can notify you about contracting and purchasing opportunities that come available. In addition, you should reach out to the Louisiana Procurement Technical Assistance Center for assistance with the bidding process. For more information, visit the Doing Business with the Government section of the Grow a Business page.
Where can I find business assistance in my area?
Throughout Louisiana, there are several organizations available to assist you with your business. If there is a specific type of assistance you are looking for, explore our Grow a Business page for a brief description of the different resource providers. You can also browse our Regional Resources to see what is available near you.
Does the state or federal government offer grants to assist in growing my business?
Typically, there are no grants at the state or federal level to operate a small business. Announcements for counseling, training, or research grants will appear on www.grants.gov. Additional federal grant information can be found at www.cfda.gov.
What can I do to help my business grow?
Growth can come from a variety of sources, including expansion into new markets, government contracting, or international trade. The decision on how you should grow your business will depend on the type of business you own and your available resources. Explore the resources and opportunities available to help you grow your business.
Where can I find information about starting a child care business?
The Department of Children and Family Services can provide information on the necessary requirements when starting a child care business.
Hudson Initiative
Where can I go to find out more about the benefits of the program?
For additional information on the benefits listed, you can reference the following documents: The Small Purchases Executive Order, governing small purchases, and the 10% Allowance on Requests for Proposals.
What does "not dominant in its professional field" mean?
You are not the dominant business in your professional field, meaning that you are not the primary business in your industry. For example, if your business was the largest widget manufacturer in the country, you would be considered dominant in your field, and would not qualify.
Where can I find more information about doing business with the State?
Visit the Vendor Resources page on the Office of State Procurement’s website for additional information for vendors, including the annually updated guide on “How to Do Business with the State of Louisiana.”
View “Your guide for conducting business with the State of Louisiana” to learn more about the procurement process.
View “How to respond to an Invitation to Bid (ITB)” to learn more about the ITB process with the state of Louisiana.
View “How to respond to a Request for Proposal (RFP)” to learn more about the RFP process with the State of Louisiana.
How can I learn more about creating bid proposals?
Contact the Louisiana APEX Accelerator for help with the marketing and bidding process, and post-award and contract management.
Where do I find a list of Hudson-certified clients?
Go to www.ledsmallbiz.com and click on the link under the program headers to find the list of Hudson-certified businesses.
How long does it take for my application to be reviewed?
Applications will be reviewed and an email will be sent notifying you of your status within two business days.
I got certified in Hudson years ago, but have not kept up with my certification. What do I need to do to get back in the program?
If you have not been submitting your required annual updates, you will need to recertify by logging into your account at www.ledsmallbiz.com.
I am a Hudson-certified company. What do I need to do to start receiving information about purchasing and contracting opportunities?
You need to register your business with the Office of State Procurement in order to learn about current bid opportunities in your industry.
Once I get certified, will I automatically be given contracts?
No. The Hudson Initiative is a goal-oriented certification program, but there are no contracts set aside for certified businesses. You need to register your business with the Office of State Procurement in order to learn about current bid opportunities in your industry.
LCAI
Will the instructors be present in my class?
Yes, the instructors and guest speakers will present their material virtually via Zoom. Students will have the opportunity to ask the instructor or guest speaker questions and receive real-time answers.
Can I attend the class from home?
Yes, the LCAI Residential Contractors Seminar is being offered via Zoom, a web based video conference tool which can be accessed anywhere with internet connection.
Can I sign up and start attending the LCAI Residential Contractors Seminar any time during the year?
No, the 10-week online classes are scheduled on specific dates that can be found at the LCTCS information page and registration site, here.
What topics will the LCAI Residential Contractors Seminar cover?
The Residential Construction topics covered include but are not limited to: print reading; building calculations; site work, demolition, and construction; foundations, formwork, and retaining walls; finishes; roof structures; structural loads; wood framing construction; related trades; special construction; and safety codes.
What type of information and materials will the LCAI Residential Contractors Seminar be covering?
All information and materials disseminated during the LCAI Residential Contractors Seminar will be focused on residential construction.
Will the instructors be present in my class?
Yes, the instructors and guest speakers will present their material virtually via Zoom. Students will have the opportunity to ask the instructor or guest speaker questions and receive real-time answers.
Can I attend the class from home?
Yes, the LCAI General Contractors seminar is being offered via Zoom, a web based video conference tool which can be accessed anywhere with internet connection.
Can I sign up and start attending the LCAI General Contractors Seminar any time during the year?
No, the 10-week classes are scheduled on specific dates that can be found on the LCTCS information page, here.
What topics will the LCAI General Contractors Seminar cover?
The Commercial Construction topics covered include but are not limited to: print reading; building calculations; site work, demolition, and construction; foundations, formwork, and retaining walls; finishes; roof structures; structural loads; steel construction; related trades; special construction and equipment; and safety codes.
What type of information and materials will the LCAI General Contractors Seminar be covering?
All information and materials disseminated during the LCAI General Contractors Seminar will be focused on commercial construction.
Will the instructors be present in my class?
Yes, the instructors and guest speakers will present their material virtually via Zoom. Students will have the opportunity to ask the instructor or guest speaker questions and receive real-time answers.
Can I attend the class from home?
Yes, the LCAI Business and Law seminar is being offered via Zoom, a web based video conference tool which can be accessed anywhere with internet connection
Can I sign up and start attending the LCAI Business and Law Seminar any time during the year?
No, the six-week classes are scheduled on specific dates that can be found at the LCTCS information page and registration site, here.
What topics will the LCAI Business and Law Seminar cover?
Topics covered are derived from the National Association of State Contractors Licensing Agencies’ Contractors Guide to Business, Law and Project Management. The topics include but are not limited to: bid process, contract management, estimating, equipment management, scheduling, occupational safety, risk management, financial & business management, bonding/access to capital, certifications and available resources, and entrepreneurship training.
Will this course satisfy the business and law requirement for licensure?
No, LCAI’s Business and Law Seminar is not required for licensure. For information regarding licensure requirements, please contact the Louisiana State Licensing Board for Contractors at 225.765.2301.
Mentor Protege
How long will my protégé application stay in the pool?
Applications remain in the pool from July 1st through June 30th. Protégé must submit new application starting July 1 of each year to remain in the protégé pool.
How do I know if I’ve been selected to be a protégé?
Mentor company is solely responsible for selecting protégé at their discretion. Mentor company and LED will notify successful protégé accordingly.
What is the duration of the program?
The Mentor Protégé agreement should be completed within six to 12 months. Agreements can be renewed up to two additional fiscal years.
How are mentor companies selected?
Mentor companies are selected by Louisiana Economic Development, with referrals from regional economic development partners and other stakeholders.
PAVE
Does the online training have to be complete prior to participating in the boot camp?
Yes, the online training portion of the PAVE program must be completed before being scheduled to participate in the entrepreneurship bootcamp.
What is the time commitment to this program?
Participants should expect each module of online training to take 1 hour to review with personal time committed to working through the workbook and business development materials. In addition, the entrepreneurship boot camp will be a two-part 1-day event.
What military status is eligible to participate?
A person who is a member or former member of the Armed Forces of the United States (Army, Navy, Air Force, Marine Corps and Coast Guard, including National Guard/Reservists) who currently serve in good standing in active duty and or Reserve status or was discharged under conditions which were other than dishonorable.
Rural Entrepreneurship Initiative
As the leader of an Entrepreneur Support Organization, why should I refer my clients to the Rural Entrepreneurship Initiative program?
Referring clients to other state-supported services such as the Rural Entrepreneurship Initiative can help build trust, increase effectiveness and strengthen the entrepreneurial culture in Louisiana.
How much time should I plan to dedicate to this program?
Participation in the program will consist of 12 hours of group time and another 10-12 hours of individual time with specialists spread over at least four months.
What are the services offered through the Rural Entrepreneurship Initiative?
The Rural Entrepreneurship Initiative consists of three components – a virtual kickoff retreat workshop spanning two hours for each of the three consecutive days, three monthly virtual roundtable sessions for peer-to-peer learning, and a customized Strategic Research engagement scheduled individually for each participant.
What is the cost to participate?
The program is wholly funded by LED.
Does meeting all of the eligibility requirements for LED’s Rural Entrepreneurship Initiative guarantee my acceptance into the program?
No. Due to high demand and limited capacity, eligibility does not guarantee acceptance into LED’s Rural Entrepreneurship Initiative.
What is an eligible company for the Rural Entrepreneurship Initiative?
A Louisiana-based, rural small business that is past the start-up phase, has not yet reached maturity and is poised for future growth. Typically, these are second-stage growth companies with annual revenues of $600,000 to $50,000,000 that employ between five and 99 employees and have demonstrated the desire, ability and capacity to grow. A rural business is located in a city with less than 50,000 in population.
What is the Rural Entrepreneurship Initiative?
LED’s Rural Entrepreneurship Initiative, delivered in partnership with the Edward Lowe Foundation, is a comprehensive program consisting of leadership development, peer learning, and strategic information that aims to accelerate the growth of second-stage businesses in rural areas of Louisiana.
SEBD
I am already certified in the SEBD Program and I want to show proof to a potential client, but I misplaced my certificate. Can I get another certificate?
Yes. Please follow the directions below.
- Connect to Louisiana Economic Development’s small business portal at www.ledsmallbiz.com.
- Type in your username and password under the “Previous User Login” heading. (If you forgot your password, follow the appropriate link under “Previous User Login”).
- After logging in, you will be given the option to view your certification letter under the button titled “Certificates and Documents.”
- Click on “View SEBD Certification Letter.”
- You should now see the SEBD certificate and can print as needed.
How do I get certified as a woman, minority-owned, or disadvantaged business?
Information about these programs can be found at the following sites:
Is this a DBE or MBE program?
NO. All Louisiana Economic Development small business programs are race and gender neutral.
Where do I find a paper application?
All applications for the SEBD Program must be submitted using our online application process.
How do I log in to see my account after I am certified?
Visit www.ledsmallbiz.com to log in with your username and password.
Can I re-certify after the 10 years?
NO. The certification is only good for one 10-year period.
How long does the SEBD certification last?
The SEBD certification is good for 10 years or until the firm no longer qualifies for the program.
My business needs to buy new equipment to continue to grow. Does this program provide assistance to purchase additional equipment?
NO. The Small and Emerging Business Development Program does not provide assistance to purchase hard or fixed assets. The SEBD Program is designed to provide for managerial and technical assistance training at reduced costs.
I am SEBD certified and I just started a large project to update my company website. Can the SEBD Program help pay for that?
NO. Even though the SEBD Program can assist in digital marketing, the program cannot support any ongoing project. All projects must be recommended and submitted by an SEBD Intermediary and approved by LED prior to the start of the project.
Does it matter which Intermediary I go to?
NO. All SEBD Intermediaries have the experience and expertise to guide you through the program. Feel free to contact the one that is most convenient for you.
I am certified. Now what do I do next?
Certification is the first step. Now you must contact one of our SEBD Intermediaries and schedule an assessment. Following the assessment, the Intermediary will make recommendations for your next step.
Is there a cost to get certified?
No. Program certification is offered at no charge to the business owner.
Can I certify more than one company in the SEBD Program?
No. The SEBD Program is designed to support only one business, by way of the business owner, for managerial and technical assistance training.
How can I get a grant to start my small business?
The SEBD Program is not a grant, and Louisiana Economic Development does not have grants for small businesses. Small businesses can search for federal grants at www.grants.gov or www.sbir.gov.
Starting a Business
Where can I get a small business grant to start my business?
Typically there are no grants at the state or federal level to help start a small business. Announcements for counseling and training grants appear on www.grants.gov. Additional federal grant information can be found at www.cfda.gov.
Where can I find information about obtaining coastal use permits?
The Department of Natural Resources Office of Coastal Management can assist in obtaining coastal use permits.
Do I need a license or permit to start my business?
Businesses are subject to permitting and licensing requirements at the local, state and federal levels. Information about required licenses and permits can be found through your local parish and city governments, and through the Louisiana Secretary of State.
What type of insurance does my small business need?
The Louisiana Department of Insurance and the Louisiana Workforce Commission can assist you in determining the specific insurance(s) required to operate your business.
Where can I learn more about local, state, and federal business taxes?
The Louisiana Department of Revenue and the U.S. Internal Revenue Service can assist you in determining specific taxes required to operate your business.
Are there any local resources to help me write a business plan?
Yes. The Louisiana Small Business Development Centers and SCORE can help you write a business plan. There are additional resources located throughout the state. Check our Regional Resources section to find a service provider near you.
What type of business structure should my company have?
As there are a multitude of choices for your business entity, it is highly recommended that you seek legal counsel and professional accounting advice in choosing a business structure.
Why do I need a business plan?
A business plan evaluates the feasibility of your business idea and outlines every major aspect of your business, including products or services, marketing strategy, financial projections and management principles.
STEP Grant
How do I complete the section of the application titled Planned Use of STEP Funds?
Small businesses must complete the application with detailed responses to the categories listed. For example, if a company selects Travel and participation in domestic or overseas trade shows and missions, then the trade show or trade mission name and date must be provided.
When should I submit an application?
Applications should be submitted in advance of undertaking any planned eligible expense for which you would like to seek reimbursement.
What are the required documents needed for reimbursement?
For reimbursement of approved expenses, clients must provide invoices/receipts (evidence of expenses charged) and proof of payment in order to receive reimbursement. Estimates, quotes and/or hand written receipts will not be accepted as proof of payment and will not be reimbursed. For any reimbursable expense conducted in a foreign currency, confirmation of US dollar equivalent (credit card or bank statement showing expenses) must be provided for reimbursement. A completed evaluation form of the trade event (including meetings and events) along with results and projected sales MUST BE SUBMITTED WITH THE REQUEST FOR REIMBURSEMENT.
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.
Does completing my STEP application guarantee my company’s reimbursement?
No, the approval of a company’s STEP Application does not guarantee reimbursement. Companies must be approved into the program and fulfill all requirements in order to receive reimbursement. Among these requirements is the submission of a STEP Results Form after each approved activity, and adherence to the Fly America Act (when applicable). Companies who are found to not be in good standing with SBA will also be disqualified from reimbursement.
Can you explain the Fly America Act?
A flight must be economy-class on an American carrier in order to adhere to the Fly America Act. STEP cannot reimburse for extra leg-room or Business, First-Class airfares. Flight receipts must show the name of the traveler, the flight class, the dates/cities of travel, and the airline. If booking is done through a 3rd party service (like Expedia or Travelocity), the company is taking a risk that the carrier may be switched to a non-compliant airline without notice. One exception to this requirement is transportation provided under a bilateral or multilateral air transport agreement, to which the U.S. government and the government of a foreign country are parties, and which the Department of Transportation has determined meets the requirements of the Fly America Act. Please review the Fly America Act for further detail.
What does Louisiana STEP reimburse for?
The Louisiana STEP Program can reimburse for the following eligible expenses:
- Registration/Exhibit booth fees
- Trade mission fees
- Ground transportation fees
- Coach-class airfare that adheres to the Fly America Act
- Lodging up to federal/state per diem rate
- Meals up to federal/state per diem rate
- U.S. Department of Commerce fee services
- Other approved activities and expenses
Companies approved for STEP travel funds must adhere to the US Federal Foreign Per Diem Rates for international lodging and meals expenses and State of Louisiana Domestic Per Diem Rates for domestic lodging and meals expenses to receive reimbursement. Companies approved for STEP travel funds must reserve coach-class airfare and adhere to the Fly America Act to receive reimbursement.
Louisiana STEP Program will NOT reimburse for passport or visa fees, immunizations, expenses related to entertaining current or prospective clients or government officials, new product development, cellphone charges.
Can my company use funds for any trade show?
No, companies can only use STEP reimbursement funds for a qualifying trade show as approved by LED staff prior to participation.
Who does not qualify for a STEP Grant?
Ineligible small businesses are those that do not have a product or service to export, are acting as intermediaries for other companies and/or are recruiting foreign investment. Companies that are already receiving federal funding from another institution for a particular event are also excluded from receiving additional funding through STEP.
Also, companies who receive STEP funding for their travel to a trade show must be registered exhibitors at that show, and STEP travelers must be company employees. Likewise, companies who receive STEP funding for their travel to a trade mission must be a registered participant of that mission.
Who can apply for a STEP Grant?
Any qualifying export-ready small business headquartered in Louisiana can apply. A qualifying business must meet the SBA definition of a small business, be registered to do business in the state of Louisiana, have been in business for no less than one year, be operating profitably, have at least 51% U.S. content in their product or service, and have not been debarred from doing business with the federal government.
For further information about qualifying as a small business, please see the SBA’s definition.
System for Integrated Growth
What is the System for Integrated Growth and how can it help me as the CEO of a growing company?
The System for Integrated Growth (SIG) is an innovative program that addresses small business challenges that impact growth, whether they are internal or external problems. SIG is ideal for companies at pivotal points. For example, even though your company is growing, you may feel overwhelmed – you don’t know what you don’t know. You may need to build a senior management team, but lack employees with in-depth knowledge in certain areas. Or you may be running on all cylinders and ready to take that next step towards increased sales and new markets. Whatever your situation, SIG can provide expertise for continued success.
How much time should I plan to dedicate to this engagement?
Many of the CEOs we have interviewed after their engagement have told us that they spent between ten and twelve hours directly involved in the process.
How long does the program engagement last?
The entire engagement lasts between four and six weeks on average. The length of time is usually determined by factors such as complexity of the issues, availability of relevant research information, and CEO involvement and availability.
What are the services offered through the System for Integrated Growth?
Through accelerated technical assistance and research, an experienced team of experts in their respective fields will provide customized services tailored to meet individual business needs. Following an initial Needs Assessment call where the CEO outlines their current strategy and needs, the SWAT Team of experts begins to provide research reports, best practices and data for the company to implement within its growth strategy. Research areas include digital marketing, human resources, supply chain, market research, sales, finance, geographic information systems (GIS), operations and succession planning.
What is the cost to participate in the System for Integrated Growth?
There is no cost to participate in the System for Integrated Growth. The program is wholly funded by LED.
What is a second-stage growth company?
The definition of a second-stage growth company can vary somewhat, but it typically refers to a company that has grown past the startup stage but has not reached the point of maturity. It is also a company where the CEO is transitioning out of total control and into a more strategic role while professional managers are added to run key parts of the company. The firm still does not have the capacity to retain a full-scale professional management team. In Louisiana, a second-stage growth company is one with five or more employees, but not more than 100, and has annual revenues that exceed $600,000 but are less than $50,000,000.
What is System for Integrated Growth?
The System for Integrated Growth is a research-based program that provides virtual access to information tailored to your specific needs. In partnership with the Edward Lowe Foundation, accepted companies are provided up to 34 hours of business assistance focused on strategic growth issues.
Veterans First
What do I receive as a part of this certification program?
Louisiana veteran, active-duty or reserve military, or Gold Star spouse businesses registered for the Louisiana Veterans First Business Initiative will be added to a searchable database for anyone wanting to learn more about the businesses.
Participating businesses will also receive an insignia to use in all marketing and advertising efforts. This logo will be available in the database at any time as well as emailed to participating businesses owners upon completion of registration. Business owners will also receive a plaque/certificate and window decal to display at the place of business.
What documentation is needed to become certified by Louisiana Department of Veteran Affairs as a veteran, active-duty or reserve military, or Gold Star spouse for this program?
Complete the process online at LAVeteransFirst.org or go to one of the Louisiana Department of Veteran Affairs Parish Service Offices, bring the required documentation and have the business certified.
Veteran: Provide an original or certified copy of an official discharge record which shows that the business owner’s service was under conditions other than dishonorable. Examples of acceptable documents:
- DD Form 214
- NGB Form 22
- DD Form 256
Active: Business owners must present a current, valid Uniformed Services ID Card or Common Access Card (CAC) confirming active, reserve or national guard status.
Gold Star: Business owners must verify that they are a Gold Star spouse as defined by the Department of Defense (DoD), by bringing a US Department of Veterans Affairs award letter granting you Dependency and Indemnity Compensation. Business owners may still qualify even if the VA has stopped paying such business owners because they have remarried. The LDVA Veterans Assistance Counselor will ensure that the circumstances of the servicemember’s death meet the requirements of the DoD definition.
If you encounter any difficulty in securing the required documentation listed above, assistance is available. Visit the nearest LDVA Parish Service Office to receive assistance. Find the most convenient location by visiting https://www.vetaffairs.la.gov/locations/.
What are the steps to become certified?
Click here to start the registration process.
Step 1: Register to certify a business.
Step 2: Ensure the business is registered and in good standing with the Secretary of State, or, if the business is a sole proprietorship, has a registered Trade Name with the Secretary of State.
Step 3: Upload appropriate documentation or go to one of the Louisiana Department of Veteran Affairs Parish Service Offices, bring the required documentation and have the business certified.
Step 4: Insignia, decal and certificate will be emailed and mailed to business owners for use in promoting the business as owned by a veteran, active-duty or reserve military, or Gold Star spouse..
What qualifies my business to sign-up and become certified?
To participate, a business must be certified by the Louisiana Department of Veteran Affairs as being 51% owned by a veteran, active-duty or reserve military, or Gold Star spouse. The business must also be registered and in good standing with the Secretary of State, or, if the business is a sole proprietorship, have a registered Trade Name with the Secretary of State.
Does it cost me anything to sign-up?
No. This program is free to all Louisiana businesses that are at least 51% owned by a veteran, active-duty or reserve military, or Gold Star spouse.
Why should I sign up?
The Louisiana Veterans First Business database allows Louisiana to honor businesses owned by a veteran, active-duty or reserve military, or Gold Star spouse. The program also helps in the promotion and marketing of such businesses. The program will also allow these businesses to be searched in the Louisiana Veterans First Business database by those individuals or companies looking to do business with veteran, active-duty or reserve military, or Gold Star spouse owned businesses.
What do I receive as a part of this certification program?
Louisiana veteran, active-duty or reserve military, or Gold Star spouse businesses registered for the Louisiana Veterans First Business Initiative will be added to a searchable database for anyone wanting to learn more about the businesses.
Participating businesses will also receive an insignia to use in all marketing and advertising efforts. This logo will be available in the database at any time as well as emailed to participating businesses owners upon completion of registration. Business owners will also receive a plaque/certificate and window decal to display at the place of business.
What documentation is needed to become certified by Louisiana Department of Veteran Affairs as a veteran, active-duty or reserve military, or Gold Star spouse for this program?
Complete the process online at LAVeteransFirst.org or go to one of the Louisiana Department of Veteran Affairs Parish Service Offices, bring the required documentation, and have the business certified.
Veteran: Provide an original or certified copy of an official discharge record which shows that the business owner’s service was under conditions other than dishonorable.
Examples of acceptable documents:
- DD Form 214
- NGB Form 22
- DD Form 256
Active: Business owners must present a current, valid Uniformed Services ID Card or Common Access Card (CAC) confirming active, reserve, or national guard status.
Gold Star: Business owners must verify that they are a Gold Star spouse as defined by the Department of Defense (DoD), by bringing a US Department of Veterans Affairs award letter granting you Dependency and Indemnity Compensation. Business owners may still qualify even if the VA has stopped paying such business owners because they have remarried. The LDVA Veterans Assistance Counselor will ensure that the circumstances of the servicemember’s death meet the requirements of the DoD definition.
If you encounter any difficulty in securing the required documentation listed above, assistance is available. Visit the nearest LDVA Parish Service Office to receive assistance. Find the most convenient location by visiting https://www.vetaffairs.la.gov/locations/.
What are the steps to become certified?
Click here to start the registration process.
Step 1: Register to certify a business.
Step 2: Ensure the business is registered and in good standing with the Secretary of State, or, if the business is a sole proprietorship, has a registered Trade Name with the Secretary of State.
Step 3: Upload appropriate documentation or go to one of the Louisiana Department of Veteran Affairs Parish Service Offices, bring the required documentation and have the business certified.
Step 4: Insignia, decal and certificate will be emailed and mailed to business owners for use in promoting the business as owned by a veteran, active-duty or reserve military, or Gold Star spouse.
What qualifies my business to sign-up and become certified?
To participate, a business must be certified by the Louisiana Department of Veteran Affairs as being 51% owned by a veteran, active-duty or reserve military, or Gold Star spouse. The business must also be registered and in good standing with the Secretary of State, or, if the business is a sole proprietorship, have a registered Trade Name with the Secretary of State.
Does it cost me anything to sign-up?
No. This program is free to all Louisiana businesses that are at least 51% owned by a veteran, active-duty or reserve military, or Gold Star spouse.
Why should I sign up?
The Louisiana Veterans First Business database allows Louisiana to honor businesses owned by a veteran, active-duty or reserve military, or Gold Star spouse. The program also helps in the promotion and marketing of such businesses. The program will also allow these businesses to be searched in the Louisiana Veterans First Business database by those individuals or companies looking to do business with veteran, active-duty or reserve military, or Gold Star spouse owned businesses.
Veterans Initiative
Where can I find more information about doing business with the State?
Visit the Vendor Resources page on the Office of State Procurement’s website for additional information for vendors, including the annually updated guide on “How to Do Business with the State of Louisiana.”
How can I learn more about creating bid proposals?
Contact the Louisiana APEX Accelerator for help with the marketing and bidding process, and post-award and contract management.
Where do I find a list of Certified Veteran or Service-Connected Disabled Veteran clients?
Go to www.ledsmallbiz.com and click on the link under the program headers to find the list of Certified Veteran or Service-Connected Disabled Veteran businesses.
How does the Veteran Initiative certification differ from the Hudson certification?
The Veteran Initiative certification provides 12% extra points that can be added to your bid on a Request for Proposal (RFP) whereas the Hudson Initiative only provides 10% extra points. For non-construction related businesses, the Veteran Initiative requires that average annual gross receipts must not exceed $6 million, the Hudson Initiative requires not to exceed $5 million.
I have a Veteran-certified company. What do I need to do to start receiving information about purchasing and contracting opportunities?
You must register your business as a vendor with the Office of State Procurement in order to learn about current bid opportunities in your industry.
Once I am certified, will I automatically be given contracts?
NO. The Veteran Initiative is a goal-oriented program, but there are no contracts set aside for certified businesses. You must register your business with the Office of State Procurement in order to learn about current bid opportunities in your industry.