0 Data
0 News
0 Properties
0 Page

Texas Leverage Fund

The Texas Leverage Fund (TLF) provides a source of financing to Economic Development Corporations that have adopted a Type A or Type B economic development sales tax. Kilgore is a Type A Corporation. Communities may leverage future sales tax revenues to expand economic development through business expansions, business recruitment and infrastructure improvements.
 
Awarding loans from $25,000 to $5 million, the TLF is available for interim, long-term or gap financing. TLF loans provide flexible financing terms to match the unique needs of communities. The funds are low-cost loans, providing capital to communities at floating Prime Rate, as published in the Wall Street Journal. Generally, economic development corporations are eligible to borrow up to $5 million with exact amounts based on sales tax revenues and debt service coverage ratio. Future sales tax revenues serve as collateral for loan repayment with required debt service coverage ratios specified in the Texas Leverage Fund Program Guidelines. Pledged tax collections not needed for actual debt service are available for other projects.
 
For more information, please click HERE.