Louisiana Business Loans

The state of Louisiana is filled with rich traditions and history, its economy is reliant on prideful business owners to bring much needed revenue for the local economy. The state is continuing to look for ways to boost their local economy and business loans in Louisiana are vital to the success of the state’s economy. While new industries are expanding, the state is dependent on a few key industries. The most important industries in Louisiana today are agriculture, oil, natural gas, chemical production and commercial fishing. SMB Compass provides business loans to a wide range of industries and businesses to help continue to grow the local economy. Also, the Small Business Administration helps in providing finances to business owners in Louisiana like when SBA loans New Orleans in Louisiana.

The agriculture industry contributes a significant amount of the state’s revenue annually. The warm climate allows small businesses to take advantage of growing and working year-round. The most popular crops in the state are cane, sugar rice soybeans and cotton while the most common livestock are cattle and calves.

Although they are both equally important, crops bring in more revenue than livestock for the state’s economy. Louisiana relies on not only its fertile farmland but also its natural resources such as oil and gas to bring added revenue to the local economy. Small business loans in Louisiana provide those businesses a way to overcome any short-term expenses or challenges they may face.

Louisiana has major tourist destinations such as New Orleans and Baton Rouge that make up a large amount of the revenue for the tourism industry. New Orleans, home to the Mardi Gras, brings over one million visitors to the state each year, roughly three times the city’s entire population. Louisiana small business loans help business owners prepare for the busier seasons and also operate effectively during the slower months. The New Orleans Saints and the LSU athletic program attract visitors from around the country, providing a large revenue stream for the local economy. Business owners across a wide range of industries rely on small business loans in Louisiana to manage and expand their businesses.