If you’re a business owner looking to expand, relocate or get started, then we have an incentive that will benefit you. The Alamo EDC’s Revolving Loan Fund Program has helped numerous businesses over the years transform, expand or establish their foundation in our beautiful and growing city.
On Wednesday, March 29th, the Alamo EDC will be hosting a business workshop detailing the Revolving Loan Fund Program.
What is the Revolving Loan Fund Program?
This important program provides loans to local businesses and uses the repayments and interest to help others. A business qualifies if the following guidelines are met:
- Must be located in Alamo
- Must contribute 25% of the total project cost
- At least 51% of the business must be owned by a U.S. citizen or resident alien
- The loan requires dollar-to-dollar collateralization
Businesses That Have Benefited
The Original Willie’s Bar-B-Q
Known throughout the Valley for its amazing and authentic dishes, The Original Willie’s Bar-B-Q needed to expand to meet a strong customer demand. The Alamo EDC offered the restaurant a loan that contributed to a larger dining and parking area.
I Kids Academy
Wanting to assist Kimberly Hess’s dream of providing the children of Alamo with an opportunity for better education with school readiness, the Alamo EDC provided a loan to make her dreams come true. After establishing a business plan and applying for the Revolving Loan Fund Program, I Kids Academy was born. Collaborating with the EDC, the loan allowed I Kids Academy to transform an old warehouse into a playful and functioning space for classrooms, bathrooms, a kitchen and an area for kids to enjoy and learn.
With the help of the Alamo EDC, Medek LLC started laying the foundation to their new 12,000 square foot warehouse and adjacent 1,850 square foot office building.
Soleil Rehab Services
A physical and occupational therapy service was needed in Alamo, and a husband and wife team looking for assistance became a priority for the EDC. With our help, Soleil Rehab Services came to fruition with a facility consisting of a main lobby, clinical office, two speech therapy rooms, one physical therapy room, a small kitchen and one handicap-accessible restroom.
Aaron’s Income Tax Services
Turning to the EDC for assistance, Aaron’s Income Tax Services wanted to transform an old building into a professional location for its operations. With the Revolving Loan Fund Program, this company established an office building that catered to local residents and visitors looking for tax preparations.
If you’re looking for more information about how the Alamo EDC can help your business grow, or if you’re wanting to learn more about the Revolving Loan Fund Program, then visit our Business Workshop on Wednesday, March 29th from 12:00 PM until 1:00 PM at 715 E. Business 83 in Alamo.