Mark Your Calendar for the Alamo EDC Small Business Workshop on January 29th!

If you’re a soon-to-be entrepreneur or small business owner thinking of opening or relocating your company, then consider attending the FREE Alamo EDC Small Business Workshop on January 29th from noon until 1:00 PM at 715 US Business 83 in Alamo. Lunch will also be provided!

The workshop will focus on Alamo’s Revolving Loan Program, the Micro Loan Program, and more. Plus, the workshop will feature representatives from the UTRGV Small Business Development Center to offer advice and technical support. Learn more about it below!

The Alamo Revolving Loan Program

The Revolving Loan Program is a self-sustaining project that helps small businesses by using funds made up of interest paid for previous revolving loans. These fixed-interest loans can offer up to $150,000 at 4% to 10% interest. For a business to qualify:

  • It must be located in Alamo.
  • An application must be filled out.
  • A business plan that includes a budget must be submitted.
  • The business owner or person on the note must contribute 25% of the total project cost.
  • Over half of the business must be owned by a U.S. citizen or resident alien.

The Micro-Loan Program

Also to be discussed at length is the Micro-Loan Program. It can administer loans between $1,000 and $5,000 for repairs or renovations to existing businesses. To qualify:

  • The business must have been in operation for at least two years (24 consecutive months).
  • The applicant must have a minimum credit score of 620.
  • Over half of the business must be owned by a U.S. citizen or resident alien.
  • At least two bids or quotes from vendors who will be performing the repairs or renovations must be submitted.

The Small Business Development Center

As mentioned before, the Alamo EDC has invited representatives from the UTRGV Small Business Development Center to talk about assisting entrepreneurs and business owners.

Let’s Help Your Business!

Stop by the workshop to learn as much as you can about what we can do to help build your business. Visitors can also set up appointments with the Alamo EDC for further assistance. For more information about this workshop or any of our programs, contact us today.

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