This grant was made possible by the hard work of then congressman, Jim Chapman. The CLP is designed to provide long-term financing to eligible businesses. Loan proceeds can be used for fixed assets, new construction, renovations, leased property, equipment, inventory, and working capital. CLP funds can even be used in some instances to provide equity injections.
What are the benefits of a CLP Loan?
Borrowers will benefit from a low down payment, and long terms that are available through the program. Also, the wide variety of uses will allow borrowers a great deal of flexibility that may not be available through other sources.
How does the CLP Program work?
The CLP Program involves a direct loan from the ETRDC to borrowers. The borrowers injection can be as low as 10%.
Who is eligible?
Any existing or startup business within the counties of Anderson, Camp, Cherokee, Gregg, Harrison, Henderson, Marrion, Panola, Rusk, Rains, Smith, Upshur, Van Zandt, and Wood.
How much can my business borrow?
The ETRDC is limited to a maximum loan amount of 90% of the project. Loans can range in size from $30,000 to $250,000.
How do I apply for the program?
Applying is easy. Simply download the application forms, and return the completed forms along with any attachments to the ETRDC offices.