The Alamo Economic Development Corporation (EDC) was created to sustain and improve the economic conditions of the community by increasing private enterprise and creating jobs in the City of Alamo. As result, the Alamo EDC works to promote projects that will increase/retain employment, provide higher wages, increase sales tax, and increase property tax as benefits to the residents of City of Alamo, TX.
The Alamo EDC is a 4B/Type B EDC. As a Type B EDC, Alamo EDC can use sales tax funds for the provision of land, buildings, equipment, facilities, expenditures, targeted infrastructure and improvements for the creation or retention of primary jobs.
In addition to Type B incentives, the Alamo EDC also has three standing programs for existing business. The Small Business Grant Program provides reimbursement grants up to $2,500.00 for businesses with 2 years/24 consecutive months of operation for signage, storefront improvements, repairs & renovations and limited equipment purchases.
The Micro-Loan programs offers loans of between $1,000.00 to $5,000.00 at 5% for two years to businesses with 2 years/24 consecutive months of operation for signage, storefront improvements, repairs & renovations, and equipment purchases. These loans are based on a credit score of 620 and two-years of operations. No collateral is required.
Lastly, the AEDC offers small business loans of $10,000.00 to $150,000.00 through the Revolving Loan Fund. These loans start at 4% and have a maximum term of 10 years depending on the project. In order to be considered, applicant business must be located in Alamo, applicant must provide 25% equity contribution, 51% of the business must be owned by a US Citizen or Resident Alien, and applicant must provide dollar to dollar collateral.
For more information contact our office at (956) 787-6622.
The Alamo Economic Development Corporation (EDC) was created to sustain and improve the economic conditions of the community by increasing private enterprise and creating jobs in the City of Alamo. As result, the Alamo EDC works to promote projects that will increase/retain employment, provide higher wages, increase sales tax, and increase property tax as benefits to the residents of City of Alamo, TX.
The Alamo EDC is a 4B/Type B EDC. As a Type B EDC, Alamo EDC can use sales tax funds for the provision of land, buildings, equipment, facilities, expenditures, targeted infrastructure and improvements for the creation or retention of primary jobs.
In addition to Type B incentives, the Alamo EDC also has three standing programs for existing business. The Small Business Grant Program provides reimbursement grants up to $2,500.00 for businesses with 2 years/24 consecutive months of operation for signage, storefront improvements, repairs & renovations and limited equipment purchases.
The Micro-Loan programs offers loans of between $1,000.00 to $5,000.00 at 5% for two years to businesses with 2 years/24 consecutive months of operation for signage, storefront improvements, repairs & renovations, and equipment purchases. These loans are based on a credit score of 620 and two-years of operations. No collateral is required.
Lastly, the AEDC offers small business loans of $10,000.00 to $150,000.00 through the Revolving Loan Fund. These loans start at 4% and have a maximum term of 10 years depending on the project. In order to be considered, applicant business must be located in Alamo, applicant must provide 25% equity contribution, 51% of the business must be owned by a US Citizen or Resident Alien, and applicant must provide dollar to dollar collateral.
For more information contact our office at (956) 787-6622.
