South Texas has grown tremendously over the past decade. New renovations, expansions and developments have pushed the Rio Grande Valley into the forefront of exciting new ventures. This region’s growth has propelled it to the fifth spot on the list of largest metropolitan statistical areas in Texas, surpassing El Paso and Killeen. With more businesses looking to invest in the Rio Grande Valley, it’s essential for yours to be aware of great incentives to help it succeed. The Alamo EDC has been assisting businesses for many years, and the Revolving Loan Program is just one of many incentives available.
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What is It?
The Revolving Loan Program is just one of the many incentives that the EDC offers as part of our efforts to encourage business growth and job creation in the city. It’s designed to assist small businesses and startups by providing low-cost, alternative financing options.
Steps for the Loan Process
- Fill out a loan application.
- Submit your business plan with the loan application (the plan must include a budget for use of funds).
- Submit all documents to the Alamo EDC via mail or hand delivery.
- The EDC begins the loan application review to determine eligibility.
- The applicant will be notified of eligibility status.
- If the applicant is eligible, the loan application will be presented to the Loan Review Committee.
- A committee recommendation will be presented to the EDC Board for final approval.
- The applicant will be notified of the Board’s decision to approve or deny the loan application as well as loan-specific terms, when applicable.
For a list of initial documents needed for the Revolving Loan Application, call 956.787.6622.
Being only minutes away from McAllen, Edinburg and Mission has allowed the City of Alamo to attract visitors from across the world while maintaining a small-town feel. The city is home to small businesses, major chains, quaint places to retire and is the epicenter of nature tourism.
Serving as an international gateway to cities like Nuevo Progresso and Tamaulipas, Alamo also provides unique opportunities in international trading and commerce. It has a $500 million retail potential and over 400 acres available for warehousing and distribution. The city’s commercial properties range from 3,000 square feet to 4.9 acres in size on average. Combined with a young, bilingual and skilled workforce, we have everything you’ll need to be successful.
Let’s Talk Business
Don’t hesitate to look into locating your business to Alamo. This region is home to 3.5 million people and the Alamo EDC is ready to help you be successful. For more information on what we can do for you, contact us today!