Nov 16th Program

On September 13, 2008 Southeat Texas was devastated by Hurricane Ike impacting many small business.  Many are still in need of assistance to recover from both physical and economic damages resulting for the disaster.  The three county region of Jefferson, Orange and Hardin has been designated recipient of a $1.9 million Community Development Block Grant to be used toward economic recovery.

Funds will be distributed as forgivable loans.  Any business receiving funds will have 50% of the loan value forgiven after showing proof of operation for one year post disbursement and will have 100% of the loan value forgoven if operations continue for at least two years post disbursement.  Should a business cease operations before the predetermined term limits, funds will be paid back in full.

The following criteria will be used to determine eligibility of fund: 
For profit businesses located in Jefferson, Orange or Hardin Counties.
Creation or retention of 1 job satisfying LMI national objectives.
Business must have been operational prior to Hurricane Ike.
An individual credit score of 600 or higher.
Compliance with CBDG regulaitons.

If you are interested talk with Linda Tait.  Applications can be downloaded from www.setedf.org and www.sbailliancecapital.org .