|For Immediate Release:
May 5, 2016
|CAPITAL FOR TEXAS LOAN PROGRAM LAUNCHES, AIMS TO EXPAND OPPORTUNITIES FOR RURAL SMALL BUSINESSES IN TEXAS|
|Lenders announced as part of today’s small business forum|
AUSTIN – The Texas Department of Agriculture (TDA) today announced a partnership between three Community Development Financial Institutions (CDFI) — PeopleFund, LiftFund, and Business and Community Lenders (BCL) of Texas — and the agency for the new Capital For Texas (C4T) small business loan program. Through C4T, TDA will work with PeopleFund, LiftFund and BCL of Texas to increase access to capital for small businesses in rural communities and enable private entrepreneurs to make market-driven decisions to grow jobs.
“With more than 2.2 million small businesses in Texas, it’s important we work together to empower them to grow jobs in Texas,” Agriculture Commissioner Sid Miller said. “Through innovative programs like the Capital For Texas small business loan program and today’s small business forum, we are giving Texas businesses an opportunity to expand and grow their operations right here in the Lone Star State.”
C4T was created as a result of the U.S. Department of the Treasury’s State Small Business Credit Initiative. This program supports TDA’s goals of empowering rural communities to cultivate winning strategies for economic growth by providing financing options to small businesses and manufacturers that are creditworthy but are not getting the loans they need to expand and create jobs. Loans for the C4T program will range from $5,000 to $350,000, with an average investment of less than $100,000.
“PeopleFund is honored to receive C4T capital from the Texas Department of Agriculture,” said PeopleFund President and CEO Gary Lindner. “As a statewide lender, we are eager to help rural Texas small business owners grow and prosper.”
During today’s Capital For Texas Small Business Forum, which was hosted by TDA at the State Capitol, representatives from small, minority- and women-owned, disadvantaged and historically underutilized businesses attended workshops on how to grow their business and receive small, minority business certifications.
“We are very proud to take such a proactive role in helping small businesses owners in Texas connect with the resources that can help them grow their businesses and reach new heights,” said Deputy Agriculture Commissioner Jason Fearneyhough. “Success for small businesses strengthens our state’s economy, and that’s a good thing for every Texan.”
Helen Callier, president of Bradlink LLC, emceed today’s small business forum. Callier was recently named the “Women in Business Champion of the Year” by the U.S. Small Business Administration for the Houston District. Callier is widely recognized as a champion for women-owned small business.