In partnership with PeopleFund, the City of Eagle Pass announces the release of the Downtown Revolving Loan Fund (DRFL). The DRFL will provide a low interest financing option to individuals looking to open a new business in the Central Business District, with a high emphasis on Main Street.
The City has committed $100,000 into this project, of which PeopleFund will match 100% under the new City Agreement for a total of $200,000 geared towards downtown.
“We are looking for opportunities to promote Eagle Pass, and this partnership is another economic development tool that we are implementing to help bring more life to Eagle Pass, especially our downtown area,” said Mayor Luis Sifuentes.
“We are honored to partner with the City of Eagle Pass in helping small business owners start or expand their businesses, create jobs and make a positive impact in their community,” said Gustavo Lasala, President & CEO of PeopleFund.
The Downtown Revolving Loan Fund will serve in generating economic opportunities and financial stability for residents by providing them with access to capital and the necessary tools to build strong small businesses.
The launch of this program was announced on February 27th, 2020 at the Arts & Cultural Center on 364 Main Street.