City of Pharr - LiftFund

City of Pharr 2.5% Interest Loan Program

The Pharr Economic Development Corporation and LiftFund are partnering to support small business owners and entrepreneurs with funding to reach their business goals.

Loans up to $50,000
Fixed interest rate at 2.5%
For small businesses located in the City of Pharr, Texas

QUESTIONS? Call us at 1-888-215-2373

Eligibility:

Business must be located in the City of Pharr, Texas
Business must be registered with the County and/or State
Business and business owner must be in good standing with creditors
Business must be current on all Sales Taxes and all Ad Valorem taxes in the City of Pharr
Business must employ fewer than 10 full-time employees at all business locations
Business and business owner must meet credit requirements, according to LiftFund guidelines
If an existing business, the loan must be used for growth or expansion, not for business retention

Please note: business located outside of the City of Pharr, Texas, home-based businesses located outside the Pharr City Limits and businesses owned by City Staff, elected officials or immediate family of City Staff or an elected official are not eligible for this program.

USE OF FUNDS

The loan funds may be used for the following business-related purposes:

Working capital
Purchase of heavy machinery, equipment, furniture, fixtures, and inventory
Payroll
Purchase of commercial real estate is only acceptable if applicant can serve the loan with a maximum term of 72 months

This program is subject to LiftFund’s underwriting guidelines and availability of funds. Other fees may apply.