Small Business Loans Made Available To East Texans - KLTV.com - Tyler, Longview, Jacksonville |ETX News

6/14/05-Tyler

Small Business Loans Made Available To East Texans

The City of Tyler today announced it was joining with the non-profit group Accion to provide loans to small businesses in East Texas. Accion works with banks to provide loans to businesses that would not qualify for more traditional finances.

The following is more information on the program provided by the City of Tyler.


Mayor Announces New Opportunity For Small Business

For some would-be entrepreneurs the reality of owning a small business remains just out of reach. The City of Tyler has been working for months to change all that.

“Small business is the backbone of any community,” Mayor Joey Seeber said. “Small business owners pay taxes, provide jobs, and generate wealth in the local economy. Today, I am pleased to announce an exciting new program that will provide new opportunities for almost anyone with the drive who only lacks the capital to get started.”

A new partnership coordinated by the City of Tyler between Accion Texas and local business development agencies will provide entrepreneurs in the Tyler area access to loan capital for small business start-ups and expansions.

Accion Texas, a statewide nonprofit organization, makes loans to small business owners with limited access to traditional bank credit. Accion specializes in microloans, or capital that serves as the foundation for low and moderate income families to improve their income stability, build credit, enhance take-home pay, and increase savings. Loans range from $5,000 to $50,000.

Local partnering agencies in Tyler are the Hispanic Business Center and the Metropolitan Chamber of Commerce. Both agencies have trained employees for processing loan applications. Austin Bank is the initial sponsor of this program in Tyler.

“As a small business owner, I know the benefits and challenges of owning a business,” Seeber said. “This partnership is a way to foster business development in our community. I am very excited about the opportunities this program presents to our citizens.”

Local entrepreneurs must fill out a loan application through the Hispanic Business Center or Metropolitan Chamber of Commerce. These organizations will help process loans to determine if a potential client qualifies for an Accion Texas loan.

To contact the Hispanic Business Center , 315 N. Broadway Ave. , call 903-592-1661. To contact the Metropolitan Chamber of Commerce, 2000 W. Gentry Parkway , call 903-593-6026.

**Information provided by the City of Tyler

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