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resources for local businesses

Whether you are looking to expand your local business, create a succession plan for your small enterprise or develop your employees to further your organizational goals, Lamesa Economic Development provides a number of resources to assist your business and keep it progressing right here in the Trade Corridor. 

Resources are available to:

  • Small Business, Startup and Entrepreneurship assistance; and

  • Existing local business expansion and retention

state programs

Capital For texas small business loan program (C4T)

C4T is designed to increase rural communities small businesses’ access to capital and enable private entrepreneurs to make market-driven decisions to grow jobs, assist their growth potential and employment capabilities through partnering community development financial institutions. 

This program supports TDA’s goals of empowering rural communities and cultivating winning strategies for rural Texas, by providing finance options to small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs. TDA anticipates the actual range of loans for the C4T program will be in the range of $5,000 to $350,000, with an average investment less than $100,000.

Federal SSBCI guidelines encourage investment of the funds to benefit communities and businesses meeting certain qualifications focused in rural Texas, including but not limited to: (i) low and moderate income communities; (ii) minority communities; (iii) other underserved communities; and (iv) veteran, women and minority owned small businesses.

Rural Texas: For purposes of the C4T program, TDA defines rural communities as those not located in a Metropolitan Statistical Area (MSA).

For more information on this program, click here.

capital access program

The Capital Access Program (CAP) is a partnership between the State of Texas and selected nonprofit lenders to increase access to financing for small and medium-sized businesses and nonprofits which face barriers to accessing capital or fall outside of guidelines of conventional lending. The Program facilitates loans which are underwritten by the participating non-profit lenders and supported by the state contributions to a loan loss reserve fund.

Businesses with no more than 499 employees and non-profit organizations which are domiciled in the State of Texas or have at least 51% of their employees located in the state and which are seeking financing for projects, activities or enterprises in the state that foster economic development are encouraged to apply.

For more information on this program, click here.

rural business development grant

Rural Business Development Grant is a competitive grant designed to support targeted technical assistance, training and other activities leading to the development or expansion of small and emerging private businesses in rural areas that have fewer than 50 employees and less  than $1 million in gross revenues. Programmatic activities are separated into enterprise or opportunity type grant activities.

For more information on this program, click here.

small business programs

SBA loans

The SBA 504 Loan program is a powerful economic development loan program that offers small businesses another avenue for business financing, while promoting business growth, and job creation. 

The 504 Loan Program provides approved small businesses with long-term, fixed-rate financing used to acquire fixed assets for expansion or modernization.  504 loans are made available through Certified Development Companies (CDCs), SBA's community based partners for providing 504 Loans.

Contact us today to discuss how an SBA loan may be able to assist your business.

revolving loan fund

Revolving Loan Funds (RLF) are established through a variety of USDA loan and grant programs and are a great way to assist with small business development in Lamesa. Funds are made available to the Lamesa Economic Development Corporation (LEDC), who make loans to small businesses and as the loans are paid back, the money is then re-loaned to other businesses.

Contact us today to discuss how the RLF program may be able to assist your business.

business counseling

Lamesa Economic Development works with businesses in more ways than just providing financial assistance. Business counseling, retention, and expansion planning are fundamental tools that we utilize to aid businesses in continuing to remain successful or to weather the storms that they may be facing.

Lamesa Economic Development is fortunate to have a liaison from the Small Business Development Center that is instrumental in providing solution based outcomes that are geared towards small and local businesses. Writing Business Plans, Financial Projections, including Income Statements and Cash Flow Reports, and assistance with issues and challenges such as Cash Flow Problems, Marketing Issues, and Other Operation Difficulties.

Lamesa Economic Development also works with our local businesses needs. We are able to understand and respond strategically through business retention and expansion efforts. Through discussion, together we can identify key advantages and challenges to growth for your business, recommend improvement strategies for your business and promote a platform for economic development professionals to record perceptions about the business climate.

Contact us today to discuss how we can be of assistance through business counseling.

local assistance

The LEAP Assistance Program is a financial incentive to create additional jobs and enhance community betterment. This incentive may only be used as a gap financing tool of last resort. The use of this incentive is for projects facing extraordinary impediments to development and offering significant positive impact to the community where the project is located. Limitations on how this incentive is used are predicated on the source of the funds and terms and conditions of the award and the project.

Contact us today for more information on LEAP assistance. Click here to download an application.

facade improvement program

The Façade Improvement Program is designed to encourage small, private businesses to reinvest in the community by making exterior improvements and appearance enhancements to their commercial building(s).  

It is Lamesa Economic Development’s position that attractive building facades support and encourage local business by having a significant effect on the overall desirability and marketability of the surrounding area. Beautification efforts attract customers/visitors and demonstrate the economic vitality of the community. This program is not intended for repairs or maintenance activities.

Contact us today for more information on the Facade Improvement Program for an existing business.  Click here to download an application.

workforce and training

workforce and training

Lamesa has partnerships with an array of providers for workforce and employee training. We strongly believe that a viable workforce is the fuel for any business, and in addition to Lamesa ISD's career training and dual credit course offerings for high school students and Howard College-Lamesa, other cohorts for skills training are available to provide the highest degree of education necessary for today's workforce.

Click here to find resources available for skills, training and workforce management.

Please Contact Us for specific workforce analysis and data according to your industry.

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