For Immediate Release

April 21 , 2011
Contact: Raquel Valdez 1-888-385-1975
512-383-0025

Business and Community Lenders of Texas selected for SBA Community Advantage Pilot Program

Non-profit is one of four organizations in the nation chosen for new program

Austin, Texas:  Business and Community Lenders (BCL) of Texas, a local Texas non-profit business lender, was one of four organizations designated by the U.S. Small Business Administration to participate in the newly developed Community Advantage Pilot Program.  The Community Advantage is a pilot initiative aimed at increasing the number of SBA 7(a) lenders who reach underserved communities and were not previously able to offer SBA loans. This week’s announcement marks the first time this program has been available through mission-focused lenders.

Community Advantage will offer up to $250,000 with an 85 percent guarantee for loans up to $150,000 and a 75 percent guarantee for loans of more than $150,000. This initiative, which allows specially-qualified community business lenders to participate in the popular SBA 7(a) business lending program, seeks to improve the capital resources available to small businesses. 

“A critical step to improve and stabilize the local economy is the expansion of small businesses and the resulting job creation,” said Executive Director Rosa Rios Valdez.  “We are excited to be able to participate in this new program that helps us reach the goal of local economic growth.”

BCL of Texas has a 20 year record of making loans to small businesses for the purpose of creating jobs and improving the economic conditions in communities throughout Texas.  BCL’s focus is to assist underserved businesses, including minority-, women-, veteran-owned and rural area businesses that often don’t have ample financing options available. 

For more information about BCL’s loan products and services, call (512)912-9884.