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Business Financing

 

Business Financing
Agency/Phone Programs and Services
Accion Texas
(210)226-3664

Accion Texas Inc. is a designated community development financial institution, or CDFI. CDFIs finance community businesses, including small businesses, microenterprises, nonprofit organizations, commercial real estate, and affordable housing.

Accion offers small business loans from $500 to $250,000 and, in Texas under the SBA 504 program, businesses also may apply for loans as large as $5 million to finance their commercial real estate and equipment needs. Click here to see loan products.

Ark-Tex Council of Governments
(903) 832-8636

Ark-Tex Council of Governments offers several loan programs designed to help in economic development projects. The purpose of the projects is to create and retain jobs in the region.Ark-Tex Regional Development Company (ATRDC).

The Ark-Tex Regional Development Company (ATRDC) is an SBA Priority Certified Development Company established in 1982 specializing in financing for owner occupied commercial real estate projects. Our organization is very familiar with the hotel/motel industry in Texas and has extended SBA 504 financing for projects.Loan Programs:

  • US Small Business Administration 504 Loan (SBA 504) s a long-term financing tool, designed to encourage economic development within a community. The 504 Program accomplishes this by providing small businesses with long-term, fixed-rate financing to acquire major fixed assets for expansion or modernization.
  • Chapman Revolving Loan Fund (CRLF) is a direct loan program for businesses or governmental entities to provide loan funds. The original funds were from a grant from Housing and Urban Development. Former U.S. Representative Jim Chapman was the catalyst for obtaining the funds.
  • Northeast Texas Economic Development District (NETEDD) Revolving Loan Fund is primarily for private industry in an eleven-county area in Northeast Texas and was established in 1987 with initial funding from an EDA grant for $1.4 million.
  • East Texas Rural Access Program (ETRAP) Revolving Loan Fund is primarily for the healthcare industry in a thirty-eight county area and was established in 2003 with initial funding from the Robert Wood Johnson Foundation for $500,000 and a USDA Rural Business Enterprise Grant for $200,000.
PeopleFund
(214) 942-6698
PeopleFund provides small business loans as well as business assistance and education to people with otherwise limited access to such resources. People Fund is a Community Development Financial Institution (CDFI) and operates as a non-profit 501(c) (3) serving all of Texas.PeopleFund provides financing to deserving but underserved small businesses and nonprofits for equipment purchases, permanent working capital term loans, revolving lines of credit, and real estate. With flexible underwriting and no pre-payment penalties, we offer interest rates that range from 8% to 15% and terms of up to 60 months (longer in special cases).
Texas Rural Communities, Inc.
(512) 312-9024

Texas Rural Communities, Inc. (TRC) makes a long-term commitment to assisting rural communities, individuals, groups and support organizations in creating, sustaining and enabling self-sufficient, viable rural development enterprises that improve or maintain the quality of rural life, through independent and cooperative ventures.

TRC provides loan opportunities in rural areas for individuals or groups who have had difficulty accessing funding through other sources.

Loan Program Summary

An applicant for a TRC loan must complete the appropriate documentation and/or business plan, repayment plan, and a credit application. Applicants are required to work through their local small business development centers to prepare a commercial loan application package. Click here for more information.

Source: Accion Texas (www.acciontexas.org/accion-loans-small-business); Ark-Tex Council of Governments (www.atcog.org/); PeopleFund (http://peoplefund.org/); Texas Rural Communities, Inc. (www.texasrural.org), as of January 2013