South Texas Business Fund

SBA 504 Loan | SBA Microloan | EDA Revolving Loan | Inner-City Loan | Bill Sinkin Microloan

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EDA Revolving Loan Fund Program
The EDA Revolving Loan Fund Program assists expanding small businesses with their fixed-asset and working capital needs by providing intermediate and long-term financing at below-market interest rates.

Funds can be used for:

Purchasing land to construct commercial or industrial facilities.
Purchasing, expanding or improving existing facilities.
Inventory and working capital, including leasehold improvements and related soft costs.

Financing Method:

A financial institution provides 57% of the total project cost.
RLF provides up to 33% of the total project cost.

Equity Requirement:

Borrower provides 10% cash injection.

Loan Amount:

Minimum of $15,000 to a maximum of $200,000, not to exceed 33% of total project cost.

Maturity:

Flexible terms tied to the life of the assets being financed.

* 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:

Second mortgage on land and building.
Lien on furniture, fixtures, equipment and lease assignment.
Personal guarantees with other pledged assets, as needed.

Benefits to the Borrower:

Below-market fixed interest rates.
Flexible terms.
Low equity requirement.

Size Standards:

Total assets less than $9 million, net worth less than $4 million, and net profit after taxes must average less than $400,000 over the last two years.

Eligible area:

City of San Antonio.

South Texas Business Fund is an SBA Accredited Lender

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