According to the Small Business Association, women own or co-own 45% of all businesses in the United States. To help with this growth and foster a healthy economic environment, both the Small Business Association and Alamo EDC have programs that can help women business owners who are planning on opening up businesses in Alamo and create economic development near McAllen.
Two Helpful Programs
As part of the Small Business Association, the Office of Women’s Business Ownership (OWBO) aims to enable and empower women entrepreneurs through advocacy, outreach, education, and support. The OWBO has created programs that every SBA regional office in the country utilizes, including business training and counseling, access to credit and capital, and marketing opportunities.
Another program is the Women-Owned Small Business Federal Contracting Program (WOSB). This program helps women-owned businesses attain federal contracts. To qualify, a business must be at least 51%-owned and controlled by women that are U.S. citizens.
The Micro-Loan Program
In conjunction with the USDA-Rural Development program, the Micro-Loan Program can help business owners with loans that range from $1,000 to $5,000 at a fixed interest rate of 5% on a two-year note. Qualifications for this loan program of Alamo include:
- Being a U.S. citizen or resident alien.
- A business being located in Alamo.
- Being in operation for at least 24 consecutive months.
- The applicant having a lease agreement for the duration of the loan.
Let’s Get Started!
Take the first step in becoming a business owner in Alamo by contacting us today.