EDA Recovery Loans
LiftFund and the Economic Development Administration have partnered to support small business owners with affordable funding.
Learn more about our EDA recovery loans in your community and apply today!
San Antonio
LiftFund’s EDA recovery loans are designed to support you and help you stabilize your business so you can continue making a difference in your community.
Loan Types:
- Recovery loans up to $250,000
- 5% fixed interest rate
- 2% commitment fee
fUNDS mAY bE uSED fOR:
- Equipment and machinery purchase
- Commercial vehicles purchase
- Purchase real estate for business immediate occupancy (minimum 60%)
- Leasehold improvement and construction
- Working capital for leasehold improvements and other business costs associated with the project
- Working capital funds must not exceed 50% of the total loan amount
eLIGIBILITY:
- For-profit businesses with physical address and operations within San Antonio city limits
- Funding is limited to existing businesses
Qualified Area:
LiftFund’s EDA loans are available to small businesses located inside the City Limits of San Antonio.
Ineligible Businesses:
The following business operations are not eligible for our EDA recovery loan funds.
- Non-Profit Businesses
- Businesses engaged in lending
- Passive Businesses
- Businesses selling through a pyramid plan
- Gambling activities
- Businesses engaged in promoting religion
- Private clubs that limit membership for reasons other than capacity
- Consumer and Marketing Cooperatives
- Any Business that had caused a prior loss to the government
El Paso
LiftFund’s EDA recovery loans are designed to support you and help you stabilize your business so you can continue making a difference in your community.
Loan Types:
- Recovery loans up to $250,000
- 5% fixed interest rate
- 2% commitment fee
fUNDS mAY bE uSED fOR:
- Equipment and machinery purchase
- Commercial vehicles purchase
- Purchase real estate for business immediate occupancy (minimum 60%)
- Leasehold improvement and construction
- Working capital for leasehold improvements and other business costs associated with the project
- Working capital funds must not exceed 50% of the total loan amount
eLIGIBILITY:
- For-profit businesses with physical address and operations within El Paso city limits
- Funding is limited to existing businesses
Qualified Area:
LiftFund’s EDA loans are available to small businesses located inside the City Limits of El Paso.
Ineligible Businesses:
The following business operations are not eligible for our EDA recovery loan funds.
- Non-Profit Businesses
- Businesses engaged in lending
- Passive Businesses
- Businesses selling through a pyramid plan
- Gambling activities
- Businesses engaged in promoting religion
- Private clubs that limit membership for reasons other than capacity
- Consumer and Marketing Cooperatives
- Any Business that had caused a prior loss to the government
Coastal Bend
LiftFund’s EDA recovery loans are designed to support you and help you stabilize your business so you can continue making a difference in your community.
Loan Types:
- Recovery loans up to $250,000
- 5% fixed interest rate
- 2% commitment fee
fUNDS mAY bE uSED fOR:
- Equipment and machinery purchase
- Commercial vehicles purchase
- Purchase real estate for business immediate occupancy (minimum 60%)
- Leasehold improvement and construction
- Working capital for leasehold improvements and other business costs associated with the project
- Working capital funds must not exceed 50% of the total loan amount
eLIGIBILITY:
- For-profit businesses with physical address and operations within the qualified area
- Funding is limited to existing businesses
Qualified Area:
The EDA loans are available in the following Coastal Bend Counties:
Aransas, Bee, Brooks, Calhoun, Dewitt, Duval, Goliad, Gonzales, Jackson, Jim Wells, Kenedy, Kleberg, Lavaca, Live Oak, Nueces, Refugio, San Patricio, and Victoria.
Ineligible Businesses:
The following business operations are not eligible for our EDA recovery loan funds.
- Non-Profit Businesses
- Businesses engaged in lending
- Passive Businesses
- Businesses selling through a pyramid plan
- Gambling activities
- Businesses engaged in promoting religion
- Private clubs that limit membership for reasons other than capacity
- Consumer and Marketing Cooperatives
- Any Business that had caused a prior loss to the government
Louisiana
LiftFund’s EDA recovery loans are designed to support you and help you stabilize your business so you can continue making a difference in your community.
Loan Types:
- Recovery loans up to $100,000
- 5% fixed interest rate
- 2% commitment fee
fUNDS mAY bE uSED fOR:
- Equipment and machinery purchase
- Commercial vehicles purchase
- Purchase real estate for business immediate occupancy (minimum 60%)
- Leasehold improvement and construction
- Working capital for leasehold improvements and other business costs associated with the project
- Working capital funds must not exceed 50% of the total loan amount
eLIGIBILITY:
- For-profit businesses with physical address and operations within qualified areas
- Funding is limited to existing businesses
Qualified Area:
The EDA recovery loans are available in the following parishes:
Acadia, Evangeline, Iberia, Jefferson, Lafayette, Lincoln, St. Landry, St. Martin, St Mary, Vermillion, Allen, Beauregard, Calcasieu, Cameron, and Jefferson Davis.
Ineligible Businesses:
The following business operations are not eligible for our EDA recovery loan funds.
- Non-Profit Businesses
- Businesses engaged in lending
- Passive Businesses
- Businesses selling through a pyramid plan
- Gambling activities
- Businesses engaged in promoting religion
- Private clubs that limit membership for reasons other than capacity
- Consumer and Marketing Cooperatives
- Any Business that had caused a prior loss to the government
New Mexico
LiftFund’s EDA recovery loans are designed to support you and help you stabilize your business so you can continue making a difference in your community.
Loan Types:
- Recovery loans up to $250,000
- 5% fixed interest rate
- 2% commitment fee
fUNDS mAY bE uSED fOR:
- Equipment and machinery purchase
- Commercial vehicles purchase
- Purchase real estate for business immediate occupancy (minimum 60%)
- Leasehold improvement and construction
- Working capital for leasehold improvements and other business costs associated with the project
- Working capital funds must not exceed 50% of the total loan amount
eLIGIBILITY:
- For-profit businesses with physical address and operations within the state of New Mexico
- Funding is limited to existing businesses
Qualified Area:
Ineligible Businesses:
The following business operations are not eligible for our EDA recovery loan funds.
- Non-Profit Businesses
- Businesses engaged in lending
- Passive Businesses
- Businesses selling through a pyramid plan
- Gambling activities
- Businesses engaged in promoting religion
- Private clubs that limit membership for reasons other than capacity
- Consumer and Marketing Cooperatives
- Any Business that had caused a prior loss to the government
