What is the Safe Reopen Loan Fund?

The City of Shreveport, in partnership with SUSLA Community Development Corporation, has established the “Safe Reopening Fund” to support the city’s smallest businesses as they transition into a phased reopening and continue to grapple with the economic burdens imposed by COVID-19.

The City of Shreveport’s Department of Community Development will make an initial $100,000 available for distribution in the form of forgivable micro-loans to small businesses. These funds are Community Development Block Grants that are earmarked for economic development.Businesses will receive checks for $500, which can be used to cover the cost of personal protective equipment (PPE) for employees or as working capital to assist with reopening.

Loans will be forgiven after 90 days if the recipients meet basic requirements, which include:

– Operating safely, following governor’s guidelines.
– Maintaining monthly Profit / Loss Statements (FREE QuickBooks training is available). 
– Maintaining or open a separate business bank account.
– Consulting at least once with Shreve.biz consultants.
– Submitting data on revenue and number of employees retained via online survey.

Please note: Business owners who own multiple businesses may only apply once for this program.

To apply or find out more, click here.