South Texas is abundant with emerging businesses. The retail economy is booming with renovations, expansions and new developments, all which have helped the Valley become the fifth largest metropolitan statistical area in Texas. This region ranks third nationwide in job growth since the recession and has the lowest cost of living in the country. With a population of over one million, retail sales are expected to reach $25 billion by 2030! By locating your business in Alamo, you’ve taken the first step toward a successful future.
With our help, your business can benefit from locating in Alamo! Imagine how much potential the Rio Grande Valley has for your commercial efforts!
The Revolving Loan Program
The Revolving Loan Program is just one of many incentives we offer as part of our efforts to encourage business growth and job creation in the city. This program is designed to assist small businesses and startups by providing low-cost, alternative financing options.
Acceptance into the program requires:
- Completion of the loan application.
- Submitting your business plan with a loan application (business plan must include budget for fund usage).
- Submission of all documents to the Alamo EDC via mail or hand delivery.
From there, the following will occur:
- We will begin the loan application review to determine eligibility.
- The applicant will be notified of eligibility status.
- If eligible, the loan application will be presented to the Loan Review Committee.
- A committee recommendation will be presented to the EDC Board for final approval.
- The applicant will be notified of the Board’s decision as well as loan-specific terms, when applicable.
For a list of initial documents needed for the Revolving Loan Application, click here.
Which Businesses Have Benefitted?
Numerous businesses have used the Alamo EDC’s revolving loan program:
- The Original Willie’s Bar-B-Q – Business Expansion
The Alamo EDC assisted the restaurant with parking lot and dining area expansions.
- Soleil Rehab – Start-Up Cost
We assisted with Soleil Rehab’s start-up costs, which consisted of the facility gaining a main lobby/waiting area, clinical office, two speech therapy treatment rooms, one physical therapy room, a small kitchen and one handicapped-accessible restroom.
- Ikids Academy – Start-up Cost
We assisted Ikids Academy with start-up costs that included remodeling an old warehouse to create classrooms and hire staff to initiate educational services.
- New Generation – Property Purchase
We assisted with an initial property purchase that helped New Generation build a solid foundation for their business in Alamo.
- Speedway Performance Motors – Start-up Cost
We assisted Speedway Performance with start-up costs and renovations.
- Aaron Mobile Home Transport – Property Purchase
We assisted Aaron Mobile Home Transport with a property purchase for their business endeavor.
With so much success in South Texas, other cities can benefit and contribute in their own ways. Alamo, for example, contributes with ecotourism thanks to the Santa Ana National Wildlife Refuge. Only minutes away from McAllen, Edinburg and Pharr, Alamo has a $500 million retail potential and over 400 acres available for warehousing and distribution.
A large daily traffic count also makes the city vibrant for business opportunities. Working with us also has other advantages, including a dedication to assist entrepreneurs and small business owners through other grants and incentives that include:
- USDA-Rural Development: Intermediary Relending Program (IRP)
- USDA-Rural Development: Rural Business Enterprise Grant (RBEG)
- The Local Business Retention Program
- Tax Increment Reinvestment Zones (TIRZ)
More Advantages in Alamo
For more information on how we can help your business grow in South Texas, call 956.787.6622.