ARLINGTON, Texas — Are you a small business owner in Arlington? If so, you may want to take advantage of the city's Economic Development Corporation's (EDC) new Interest Buydown Program.
According to the Arlington EDC, through a partnership with nonprofit LiftFund, it is now able to offer small business loans of up to $100,000 completely interest-free.
The Arlington EDC said in a press release that this program is designed to offer small businesses flexible funding for startup costs, expansion, staffing and more. The hope is that these businesses will utilize the loans to foster growth, innovation and job creation.
"Arlington, Texas, has long been dedicated to helping start and nurture small businesses," Executive Director of the Arlington EDC Marty Wieder said in a press release. "Small business is the foundation of our local economy. This partnership with LiftFund is one more way in which the City of Arlington and the Arlington EDC can directly benefit small business owners/operators, helping them purchase equipment, create jobs and further strengthen the American Dream City's economic ecosystem."
It should be noted that this program is open to Arlington-based businesses that have limited access to funding.
According to LiftFund, since 2016, it has helped small business owners receive over $7 million in interest-free loans with various partnerships and programs around Texas.
"We're committed to ensuring that Arlington remains a place where small businesses can thrive," President and CEO of LiftFund Amy Hereford said in a press release. "The Interest Buydown Program is an investment in the future of our local entrepreneurs that will help drive economic growth and create lasting community impact."
To learn about how to apply, visit here.
