Areas Served: Jim Hogg, Starr, Webb and Zapata Counties
The RLF provides low interest loans to the private sector, to promote economic development and thereby, increase employment opportunities in the South Texas Development Council region.
The RLF program’s goals and objectives are to stimulate and to increase commercial activity in deprived areas within the STDC region, to promote and to expand minority enterprise opportunity within the STD region, and to advance small business contribution to economic growth within the STDC region.
The South Texas Development Council is an EDA designated redevelopment area and economic development district composed of four counties, Jim Hogg, Starr, Webb and Zapata.
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The Revolving Loan Fund Program is needed to address specific voids in financing services to certain sectors of the economic and/or providing financing assistance which is not currently available and which cannot be supplied by existing area lending institutions.
The Revolving loan Fund Program also provides lower interest rate loans which are desperately needed by business who are not able to borrow at today’s extremely high interest rates.
Borrower Eligibility Criteria · Borrower must secure private funding to leverage RLF dollars on a 2-to-1 ratio · Proof of rejection from a private lending institution · Loan repayment capability · Proof of owner’s personal injection Uses of Funds · Equipment · Capital Expenditures/Inventory · Working Capital
Contact InformationSouth Texas Development Council
Address: 1002 Dicky Ln
City: Laredo
State: Texas
Website:
http://www.stdc.cog.tx.us
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