Roundtable discussion to benefit local business

The Brady Economic Development Corporation (EDC) and Cen-Tex Certified Development Corporation, a nonprofit community development financial institution headquartered in Austin, have joined together and formed a $100,000 loan pool to make loans to local businesses at below market interest rates. “Beginning Oct. 1, the McCulloch County Small Business Capital Loan Program will be ready to receive customers looking for loans from $2,000 to $25,000 for their business,” said Joe Kim King, president of the Brady EDC. The loan proceeds can be used for working capital, inventory, equipment, building improvements and other business needs. Cen-Tex is contributing $50,000 to the fund which they received from the U.S. Treasury and Brady EDC is contributing an equal match. “Last summer, U.S. Treasury representatives visited our offices and evaluated our lending experience. They met with some or our local community partners and in June we were wired $370,000 to set up five loan pools,” said Cen-Tex executive director Rosa Rios Valdez. “The other community loan pools have been set up in Goldthwaite, Cuero, Columbus and Hempstead.” The McCulloch County Small Business Capital Fund is on a first come first served basis. A business roundtable discussion is scheduled for Thursday, Oct. 11 at 12 noon at the Brady National Bank Community Room. Pam Brown of the San Angelo Small Business Development Center will be attending the meeting to assist interested individuals in business planning.

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