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Liberty Bank and Trust Company
6600 Plaza Drive, Suite 600New Orleans LA, 70127-5709
CDFI Awards for Liberty Bank and Trust Company
NMTC (2008) - $20,000,000
Liberty Bank and Trust Company provides banking services to the New Orleans market, with particular focus on the African-American community, as well as Mississippi and Texas. Liberty will provide loans and investments to support small and mid sized, locally owned companies that have strong job creation potential and that will further diversify and strengthen local economies. The NMTC allocation will allow Liberty Bank to provide financing with rates and terms customized to meet individual project needs, such as: interest rates that are at least 25 percent below market, loan-to-value ratios of up to 100 percent, longer amortization periods, and equity investments.
BEA (2008) - $675,000
Liberty Bank and Trust Company has been selected to receive an award of $675,000 through the FY 2008 round of the Bank Enterprise Award Program for its support to ASI Federal Credit Union, Carter Federal Credit Union, Hope Community Credit Union, Kappa Alpha Psi Federal Credit Union, Self-Help Credit Union, and South Side Community Federal Credit Union and for providing affordable housing development loans, affordable housing mortgages, commercial real estate loans, home improvement loans and small business loans. Liberty Bank and Trust Company is a certified CDFI and state-chartered bank with $327 million in assets.
FA (2007) - $825,400
Liberty Bank and Trust Company (Liberty), a certified CDFI, is a for-profit African American owned state chartered bank. Operating since 1972, Liberty primarily serves three investment areas: New Orleans, Baton Rouge and Jackson, MS. It provides financial products and services to low-income and minority individuals and small businesses. Liberty will use its FY07 FA award to increase loan loss reserves and its TA award to purchase ATM machines.
NMTC (2006) - $60,000,000
Liberty Bank and Trust provides banking services to the diverse New Orleans market, with particular focus on the African-American community. Liberty Bank received an allocation of NMTCs for use in the recovery and redevelopment of the Hurricane Katrina Gulf Opportunity (GO) Zone. It will use its NMTC allocation to create the Greater New Orleans Renewal Fund, which will provide capital to real estate and non-real estate business affected by Hurricane Katrina. Rates and terms will be customized to meet individual business needs, and will include: interest rates that are significantly below market, higher than standard loan-to-value, longer amortization, and equity products.
NMTC (2002) - $50,000,000
Liberty will use its NMTC allocation to: 1) provide small businesses with flexible forms of financing and technical assistance; and 2) provide debt and equity financing for the development and rehabilitation of real estate projects. Liberty indicates that, with the NMTC allocation, they intend to introduce more flexible underwriting criteria that will enable them to provide more services to underserved borrower/investees, while at the same time targeting particularly economically distressed areas.
BEA (2001) - $110,000
Capital Bank and Trust Company of New Orleans, Louisiana received an award of $110,000 for providing financial support to the Citizens Savings Bank and Trust Company, City National Bank of New Jersey, United Bank & Trust Company, and the Unity National Bank of Houston, all certified Community Development Financial Institutions (CDFIs) serving economically distressed areas across the United States.
Other Community Development Financial Institutions in Louisiana
ASI Federal Credit Union
Harahan
Capital One Community Renewal Fund, LLC
New Orleans
Dryades Savings Bank, FSB
New Orleans
Eagle Louisiana Federal Credit Union
Baton Rouge
Enhanced Delta Community Development, LLC
New Orleans
Liberty Bank and Trust Company
New Orleans
Liberty Financial Services
New Orleans
National Cities Fund, LLC
New Orleans
New Orleans Community Development Fund
New Orleans
NEWCORP Business Assistance Center
New Orleans
Red River Valley BIDCO, Inc.
Shreveport
Southern Mutual Financial Services, Inc.
New Iberia
Stonehenge Community Development, LLC
Baton Rouge
Whitney New Markets Fund, LLC
New Orleans
Featured Government Grant Resources
Small Business Administration's Loan Guarantees Program
The Small Business Administration has established the Loan Guarantees Program wherein they aim to be able to provide guaranteed loans to small business establishments which are not capable of acquiring financing from a private credit marketplace but greatly manifests the ability to repay funds in a timely manner.
Minority Business Enterprise Centers for Minority-Owned Businesses
The The Minority Business Development Agency has recently constituted the Minority Business Enterprise Centers (MBEC) Program wherein it aims to support minority-owned businesses by providing them with electronic and one-on-one business development services for a reasonably nominal fee.
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