Do you want to get your business off the ground or improve your business marketing campaign? PeopleFund will be holding a workshop dedicated to helping you expand your business on Thursday, July 28th from 9:00 AM until noon in McAllen. With great tips, local speakers and guidance to answer questions, this event will be one you won’t want to miss!
With numerous resources through PeopleFund and the Alamo EDC, it’s no surprise that so many startups, small businesses and corporations are now calling Alamo home.
Founded in 1994 as the Austin Community Development Corporation, PeopleFund’s financial and educational assistance has helped thousands of peoples’ dreams of owning a business come true. This non-profit company offers resources to thousands of startups and small businesses no matter their background or economic situation. They believe that everyone has the ability to become a successful entrepreneur and job creator by giving access to resources they need.
Small Business and Non-Profit Lending
PeopleFund’s lending program is the cornerstone of the organization. They provide financing to small businesses and non-profits for equipment purchases, permanent working capital term loans, revolving lines of credit and real estate. With no pre-payment penalties, they offer interest rates and terms of up to 60 months. Learn more about PeopleFund’s loans and lines of credit here.
Through their business assistance initiative, PeopleFund can provide one-to-one mentorship services through their network of professional volunteers and partner organizations. They provide access to other critical resources and connections to the community.
PeopleFund can provide various online learning tools that are readily available to businesses, such as:
- Business Basics
- Business Planning
- Social Media
- Legal Aspects
Events and Workshops
With continuous events and workshops in the northern and southern parts of Texas, and their annual fundraiser, PeopleFund has special events for every business to walk away with new connections and inspirations.
If you’re looking for a more tailored program, PeopleFund offers several specific programs to help your business. From PeopleVet to PeopleSpring, whether you’re a veteran or are looking for other business owners for tips, you can find what you need to help you.
PeopleFund and the Alamo EDC
With numerous resources through PeopleFund, the Alamo EDC wants to help you with our available initiatives. Through the Revolving Loan Program and Alamo Tax Increment Reinvestment Zones Program (TIRZ), businesses have more resources to be a success.
The Alamo Revolving Loan Fund
The Alamo Revolving Loan Fund is a program helping small businesses and startups by providing an affordable and alternative financing option. Businesses will need to fill out an application and submit a business plan and project budget along with:
- List of board members (corporations only)
- 2 years of income tax returns – business or personal (most current copies)
- Year-end financial statement from an existing organization
- IRS 501 (c) 3 letter (or similar), if applicable
- Purpose of loan
- Balance sheet (yearly)
- Profit and loss statement (last quarter)
Alamo Tax Increment Reinvestment Zones Program (TIRZ)
Areas not attracting a great amount of market development have an opportunity to apply for TIRZ, which will help finance the cost of redevelopment. In order for TIRZ to be effective, several steps must be taken:
- A petition for a TIRZ must be requested by property owners who possess over 50% of the appraised value of a district. The decision to create a TIRZ could also be made by the local government, but only if less than 10% of the land is residential.
- A lifetime for the TIRZ is decided.
- The assessed values of properties in the TIRZ boundaries are frozen for tax-collecting bodies, such as water districts or counties. The property values within the TIRZ are assumed to increase in the duration of the program’s lifetime.
- Property taxes made from the property value increase and will then make up the “increment” which will be donated to the improvement fund. Local taxing authorities, independent from the TIRZ-creating organization, will be in charge of determining how much of the increment will be donated.
- A governing body for the TIRZ, along with the formation of the zone as a legal entity, will be established by an ordinance passed by the municipality or county. A budget for the duration of the TIRZ, which determines which projects will be made along with how they will be financed, will be created by the governing body.
Providing opportunities for growth is a top priority for PeopleFund and the Alamo EDC. That’s why by working together and investing in a location that is destined to help you succeed is crucial. For businesses interested in benefiting from this workshop, register here. For more information on the Alamo EDC and how we can empower your business, call 956.787.6622 or contact us online.