BizCapital, a Metairie-based business and industrial development company that lends capital to small and medium-sized companies, is expanding into Denver, Tampa, Fla., New York and St. Louis.

The growth was made possible by a $110 million grant from the federal New Markets Fund, a program to create venture capital in new businesses in low-income neighborhoods, said John Brocato, BizCapital president.

The money will also be used to increase lending in Louisiana, he said.

“This means we can put out money in areas deprived of capital in Louisiana where banks won’t lend,” he said. “It opens a new segment for business capital.”

Biz Capital provided 30 Small Business Administration-approved loans to Louisiana businesses totaling $18 million in loans in 2002. Those loans ranged in size from $25,000 to $1.3 million.

(Copyright 2003 Dolan Media Newswires)