H-GALDC Business Loan Fund

Category: Other

The Business Loan Fund helps finance new or expanding small businesses when traditional funding isn't available or isn't enough. All applicants must have applied for funding from a private lending institution before being considered for the Business Loan Fund.  Loan amounts range from $25,000 to $300,000. Higher loan amounts may be considered under special circumstances. A 10% minimum down payment is required. The Business Loan Fund offers interest rates starting at 4% and repayment terms up to 10 years. One job must be created for every $75,000 of loan funds.  

Eligible Use of Funds:  Purchase of assets including buildings, equipment, furniture, and inventory (50% or more of each loan must be used to purchase assets), closing costs, and working capital.

Fill out the Business Loan Fund Project Review Form for a member of the Business Loan Fund program team to contact you to conduct a preliminary review of your project.


Contacts

Houston-Galveston Area Local Development Corporation
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