Alamo EDC has a passion for supporting local businesses and providing the financial assistance they need. If you would like to open a business, consider applying for the Micro-Loan Program. Find out how you can qualify for this incredible program!
Micro-Loan Program Requirements
To qualify for the Micro-Loan Program, you must:
- Have a business located in Alamo
- Have a credit score of 620 or better
- Provide a lease agreement for the term of the loan
- Have 51% of the company owned by a U.S. Citizen or Resident Alien
- Have a business that’s been operational for a minimum of 2 years or 24 consecutive months
- Have a minimum of 3 bids/quotes from a vendor or contractor who will perform the repair or renovation
Benefits of Alamo, Texas
There are many benefits to moving and starting a business in Alamo, Texas, including:
- Affordable cost of living
- Growing workforce
- Franchising opportunities
- Many commercial properties available
- Located in the 5th largest metropolitan area in Texas available
How To Apply
To take advantage of the Micro-Loan Program, be sure to complete all the required documents.
Fill out a:
- Application form
- A project budget
- Yearly balance sheet
- A personal financial statement
- Credit report conducted by Alamo EDC
- Profit and loss statement (from the last quarter)
- A minimum of one bid from a third-party vendor or contractor
- Year-end financial statement from an existing organization
- An executive summary with three years of financial projections
- Two years of the most current business and personal income tax returns
After you fill out all the necessary documentation, mail or hand-deliver the application to Alamo EDC.
Reach out to us!