Inner-City Loan Fund Program

Project Purpose
Designed to provide growth capital to the small business community which includes viable start-up businesses and non profit organizations. Also, debt/equity capital for development of commercial/industrial/multi-purpose property to entities (including landlords/developers) engaged in revitalizing the inner-city and/or creation/retention of jobs.

Use of Funds

Financing Method
Direct lending and bank participation loans.

Equity
Equity depends on the nature and purpose of the project (minimum 10%).

Maximum Amount
Not to exceed $50,000.

Minimum Amount
$15,000.

Terms
Loan terms will depend on the repayment ability of the business. Terms may include interest only payments or reduced payments for the first year (maximum 10 years).

* Interest Rate
7%, based on current prime rate.

Actual interest rates will be based on the current prime rate at the time of loan application and closing.

Collateral
A security interest or mortgage on assets financed, personal/corporate guarantees, and other assets as needed.

Size Standards
SBA size standards – Net worth less than $6 million, and net income less than $2 million.

Eligible Area
Projects located within Loop 1604 of the City of San Antonio, Texas.