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How to navigate your small business in a post-COVID-19 world: LSBDC wants to help

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LAFAYETTE, La. (KLFY)- Many small businesses have already applied for and gotten their Payroll Protection Program check and other business loans, but with new regulations set in place and things changing with each phase of reopening the economy, running their businesses looks a little different now.

That’s why Heidi Melancon, director of the Louisiana Small Business Development Center at the University of Louisiana at Lafayette, wants small business owners to know that help is available.

The LSBDC is a business assistance agency that provides owners consulting assistance at no cost.

“We are a technical assistance program that is part of a nation-wide network of promoting entrepreneurship, economic development and business ownership to be quite honest,” said Melancon.

She says there are programs in place to help owners better understand how to navigate changes COVID-19 has brought.

“If you’ve received a loan or loan proceeds of $150,000 in your bank account, now there’s a hesitancy of can I use this money? Am I going to be in compliance?” Melancon said. “This money is for the purpose of working capital. As long as you’re using it within these guidelines, you are free to use these funds so that your business can survive, it can come back and be sustainable.”

The center is also there to offer non-coronavirus related business help.

“We do lots of programs that help businesses with sustainability, enhancing education, and how to read your financial statements,” explained Melancon.

To get help on any specific questions you may have about your small business, you can set up an appointment with a consultant by going online or calling their office at (337) 482-6312.

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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