When trying to get your business up and running, it can be difficult to get everything sorted out. The first step is coming up with a business plan. After this is, you’ll need to figure out where you’re going to locate your business along with the ins and outs that will go into running it.
Do you need a small building? A warehouse? Will you need space for parking? If you’re opening up a restaurant, will you have a drive-thru? Will you need parking spaces for curbside pick-up?
There’s a lot that goes into opening a business, and it can get a little overwhelming at times. Here at the Alamo EDC, we strive to make things easier for you by offering loan programs to help you and your business. Let’s take a closer look at them!
The Micro-Loan Program
The Alamo EDC offers incentives like the Micro-Loan Program, which is run with assistance from the USDA – Rural Development. This program consists of lending money to local businesses and having it paid back with the interest reused for other projects.
A few of the documents needed to begin the loan process consist of an application form, an executive summary with three years of financial projections, a project budget and a personal financial statement. You can view the full list of documents here. In addition to these prerequisites, a credit check will also be conducted by us.
The Revolving Loan Program
One of the other incentives offered by the Alamo EDC is the Revolving Loan Program. This one is designed in a way that it provides business owners with an alternative, low-cost financing option. Some of the initial documents for the loan application are a business plan, two years of income tax returns and a year-end financial statement from the existing organization. View a full list of the documents necessary to begin the process here.
Get Started Today
Here at the Alamo EDC, we want to help in having your business come to fruition. The incentives that we offer cater to prospective business owners such as yourself. Contact us to see how you can get started today. Alamo is a city on the verge of a growth spurt with so much promise for small businesses. Be a part of the journey and apply for your micro-loan or revolving loan today.