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Welcome to the BLDC Homepage!
Brownsville Local Development Company, Inc.
SBA 504 Loan
Program
The
Brownsville Local Development Company, Inc. (BLDC) is a private,
non-profit certified development company. It operates solely within
the corporate limits of the City of Brownsville and its environs.
The BLDC’s mission is to further the economic development of
Brownsville, Texas, and its environs, and to promote and assist the
growth and development of business concerns, including small
business concerns. The primary objective of this Corporation shall
be benefit to the community as measured by increasing employment,
payroll, business volume, and corresponding factors rather than
monetary profits to the members.
The Brownsville Local Development Company, Inc. is certified by the
U.S. Small Business Administration to participate in the various
programs offered to small businesses, such as the SBA 504 Loan
Program. The SBA 504 Loan Program is a 10- or 20-year fixed
financing loan program for small businesses that are growing and
expanding within Brownsville and its vicinity. The 504 Loan Program
(1) helps to create new jobs or retain jobs that otherwise would
have been lost; (2) provides economic stimulus within Greater
Brownsville; and (3) provides an alternate means of financing for
small business concern. In addition, it offers long-term loans for
fixed assets, such as for the purchase of or the acquisition of land
and/or building, new construction, or lease hold improvements, and
capital equipment and renovations. Capital equipment and
renovations can be financed in conjunction with the purchase of a
building. The 504 Financing Structure model is: 50% of the total
project/Private Lender; 40% SBA/BLDC; and 10% (up to 20%) Borrower’s
Cash Injection. To qualify for this program, the small business’s
net worth may not exceed $7 million and the average net income must
not exceed $2.5 million for the past two years. |
