Partner Randy Opotowsky is now a Board Member and the Secretary of the Board at Regional Loan Corporation, a non-profit certified Small Business Development Company that offers low interest financing for businesses in Louisiana.
Per the organization, the Regional Loan Corporation was formed in 1978 to stimulate economic development and foster job creation by collaborating with economic development organizations, government agencies and financial institutions to provide non-conventional funding sources for small and minority-owned businesses.
Utilizing programs with the U.S. Department of Commerce Economic Development Administration, the U.S. Small Business Administration (SBA) and the Louisiana Department of Economic Development (LED), Regional Loan Corporation has made loans totaling $100 million to over 350 businesses.
These $100 million have included loans to a wide variety of industries including: manufacturing, wholesale, hospitality, food service, distributors, auto and body repair and all forms of retail.
The Regional Loan Corporation is designed to assist small businesses unable to obtain full conventional financing through private financial institutions.
Ineligible businesses include:
- Non-profit organizations
- Media firms
- Real estate developers
- Bars, lounges and gambling related businesses
Loan programs managed by the Regional Loan Corporation include:
- SBA 504
- BUSINESS RESOURCE CAPITAL