Economic Development Department issues first loan under Revolving Loan Fund

(PRESS RELEASE) Eagle Pass, TX – In August 2021, the city was awarded $500,000 from USDA to expand the existing Revolving Loan Fund Program. In December 2021, the economic development department began taking applications. Today, the first loan was fully approved and will be issued to Tintmasters, a local business located in 127 Ford Street in downtown Eagle Pass.

The Revolving Loan Fund program is an alternative financing tool for small business owners or those who seek to open a business for the first time to access capital with a low interest rate. Funds from these loans can be used for multiple resources such as: equipment, land, building, inventory, working capital, renovations, and others.

“We are thrilled to see our local businesses continue to thrive in our community, seeing Tintmasters open an additional location and making use of the programs we offer really shows this community is ready to grow” said Mayor Rolando Salinas Jr., “We welcome Tintmasters to downtown and appreciate the investment they’ve made to improve the area”.

“We thank the city team involved in this process to make projects like these possible, Finance – grants division, Economic Development, SBDC, and USDA” said City Manager, George Antuna “We look forward to growing our partnerships to bring more to this community and the business sector”.
For more information about the Revolving Loan Fund, please contact the Economic Development Department – Main Street Manager, Joe Cruz (830) 773-1111 ext. 2082 or via email jcruz@eaglepasstx.us