For Immediate Release
August 26 , 2009
Contact: Raquel Valdez 1-888-385-1975
512-383-0025

Business & Community Lenders of Texas expands Commercial Loan Program to North Texas.

Providing Greater Access to Capital for Entrepreneurs

Austin/Dallas, Texas:  With capital from the American Recovery and Reinvestment Act and the Small Business Administration Business (SBA) & Community Lenders (BCL) of Texas has received  $750,000 thousand to make loans up to $35,000 to growing businesses.  BCL  will expand its Microloan program, providing access to capital for expanding businesses in Bell, Bosque, Burnet, Coryell, Dallas, Ellis, Falls, Hill, Johnson, McLennan, Milam and Tarrant County . 

BCL of Texas is focused on helping existing business owners grow to the next level, retain and add new employees, stabilize the local economy.

“SBA’s Microloan program provides a critical source of capital for entrepreneurs, including women, low-income individuals and minorities, who often have difficulty in obtaining capital to grow their businesses,” said Rosa Rios Valdez, Executive Director of BCL of Texas.  “With these resources, we can put more entrepreneurs and small business owners in a position to succeed and create jobs that will in turn help drive our nation’s economic recovery.”

BCL of Texas will use the SBA funding to provide loans of up to $35,000 to entrepreneurs, which can be used for working capital and acquisition of materials, supplies, furniture, fixtures and equipment. The loans will be at market rate.

Entrepreneurs interested in becoming a borrower must meet specific criteria in terms of years in business, loan size, location, and use.  For more information, please visit: www.bcloftexas.org, email micro@bcloftexas.org, or call Chris Robles at 888-241-2215.

About BCL of Texas

Established in 1990 as a statewide not-for-profit Certified Development Corporation, BCL of Texas successfully promotes business and community development and provides business capital and commercial real estate loans throughout Texas. True to its mission to create jobs through business development, BCL of Texas has helped to create jobsfor more than 3,000 Texans. In addition to providing businesses with counseling and technical assistance, BCL of Texas originates, underwrites, processes, closes and services business loans to healthy, growing businesses. The organization also offers homebuyer education classes, assists first-time homebuyers with the purchase of their first home and helps customers remain responsible and successful homebuyers. BCL of Texas is a member of the nationwide NeighborWorks® Network, which engages in revitalization strategies that strengthen communities and transform lives. For more information go to www.bcloftexas.org

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