State & Federal Resources
SMALL BUSINESS DEVELOPMENT CENTERS – SBDCs help existing and new small business owners develop their management skills for a better chance at success. SBDCs provide confidential counseling assistance at no charge and training programs in many business areas. Through the SBDC network, businesses can also access assistance in areas of procurement, international trade and technology transfer. Small Business Development Center , Lamar University , Phone 409-880-2367
TEXAS CAPITAL ACCESS FUND – May be accessed by participating financial institutions that are providing loans to borrowers who are eligible under the program. Use of the proceeds may include working capital or the purchase, construction or lease of capital assets, including buildings and equipment used by the business. Refinancing of existing loans not originally enrolled under the program, construction or purchase of residential housing and simple real estate investments (excluding those occupied by the applicant’s business), are ineligible uses of capital access proceeds. To be eligible, a borrower must be a small business (100 or fewer employees); a medium business (100 to 500 employees); or a nonprofit organization; domiciled in Texas or having at least 51% of its employees located in Texas . Loan terms are determined by the lender. There is no minimum or maximum loan amount, only a maximum amount that the State will provide to the financial institution’s reserve fund. Texas Department of Economic Development, Phone 512-936-0223 www.tded.state.tx.us
TEXAS LINKED DEPOSIT PROGRAM– This program is a partnership between the State Comptroller, approved depository lenders, and the Texas Department of Economic Development. Use of proceeds may include working capital, the purchase, construction, or lease of capital assets, which include land, buildings, and equipment. Loans to start-up businesses are permissible, subject to the lender’s normal credit evaluation. Under certain circumstances, interim loan take-outs may be an eligible use of funds. An eligible lender must be a lending institution who has been approved as a State Depository Bank by the Comptrollers Office. An eligible borrower must be a Historically Underutilized Business, child-care provider, non-profit corporation, and/or a small business that is located in an enterprise zone. A Historically Underutilized Business is defined as a for profit corporation, sole proprietor, partnership, or joint venture whose ownership is at least 51% African American, American Indian, Asian Pacific American, Hispanic American, or woman. A child-care provider is defined as a small business that operates or proposes to operate a day-care center or a group day-care home, as defined by Section 42.002, Human Resources Code. A non-profit organization is defined as a not for profit corporation organized under the Texas Non-Profit Corporation Act. A small business is defined as a for profit, independently owned and operated entity that employs less than 100 full-time employees. Minimum loan amount is $10,000, maximum loan amount is $250,000, and loan term will usually be the useful life of asset being financed. Texas Department of Economic Development, Phone 512-936-0223 www.tded.state.tx.us
TEXAS ECONOMIC INFORMATION CLEARINGHOUSE – The Economic Information Clearinghouse (EIC) was established to oversee the agency’s four mandated information assistance centers: (1) the Texas Economic Development Clearinghouse for economic development program information; (2) the Business and Industry Data Center for economic and demographic data; (3) the Business Start-up and permit Assistance Center; and (4) the Texas Marketplace for trade and procurement opportunities. All four programs deliver information products and services through the Internet. In addition to these four programs, the Economic Information Clearinghouse includes an Economic Research unit that guides project and publication development for the one-stop centers as ell as other programs in the agency. Texas Department of Economic Development, Phone 512-936-0223 www.tded.state.tx.us
THE STATE OF TEXAS MEXCIO OFFICE – A business consulting office for the State of Texas that advises small and mid-size Texas companies in every industrial sector on issues related to exploring the potential for exporting their products or services to Mexico . The overall objective is to help Texas companies to gain substantial knowledge of potential distributors, clients/end-users or reps for their products as well as of the market situation for their products in Mexico . Texas Department of Economic Development, Phone 512-936-0223 www.tded.state.tx.us/mexico
7(a) Guaranteed Loans - Program provides guaranteed loans to small businesses that are unable to obtain financing in the private credit market, but can show an ability to repay the loans. Participating lenders provide loan funds and the U.S. Small Business Administration guarantees a portion of the loan. Guaranties can reach up to 80% on loans up to $100,000, and up to 75% on loans of more than $100,000. The maximum guaranty is $750,000. Loan proceeds can be used for any legitimate business purpose such as construction, purchase of equipment, inventory, and working capital. Loan Programs, U.S. Small Business Administration, Phone 800-827-5722 www.sba.gov/financing
Certified Development Company Loans (504 Loans) – The 504 loans provide long-term financing at reasonable fixed rates for small businesses that need to acquire land and construct buildings or fund expansion, renovation, modernization of buildings, or machinery purchase and equipment. Loans may have either a 10- or 20-year term. A lender usually provides 50% of the total required amount, secured by a first mortgage, and up to 40% is provided by a U.S. Small Business Administration (SBA) Certified Development Company. The borrower contributes at least 10%. SBA guarantees the Certified Development company loan up to $1 million. Loan Programs, U.S. Small Business Administration, Phone 202-205-6490 www.sba.gov/financing
HUBZone Empowerment Contracting Program – Designated to stimulate economic development in selected urban and rural areas. (A HUBZone is a historically underutilized business zone.) The program provides contracting benefits to small businesses located in those areas. Small businesses have the opportunity to negotiate sole-source contracts and participate in restricted competition limited to HUBZone firms. Also, small companies located in HUBZone areas are allowed a 10% price evaluation preference in full and open contract competition. Office of Government Contracting, U.S. Small Business Administration, Phone 202-205-8885 www.sba.gov/hubzone
Office of Business Initiatives – The Office of Business Initiatives administers programs and activities designed to provide information, education, and training to prospective and existing small business owners. The office engages in co-sponsorships with private-sector partners designed to provide small business owners with information, education, and training that is cost effective, of high quality, and reflective of trends in small business development. The office administers the national Service Corps of Retired Executives (SCORE) program and works with SCORE and other resource partners to maximize the number of clients provided counseling and training through the U.S. Small Business Administration (SBA). The activities of these resource partners are integrated with other SBA program offices to ensure that any small business receiving services from any SBA resource partner also receives information about all of SBA’s financial and business development products and services. Office of Business Initiatives develops and promotes the use of innovative outreach efforts to small business owners, which may include Business Information Centers , written materials, software, and other means of providing business development, business management, and business growth information. The office—in partnership with other Federal agencies—offers special purpose education, training, and information on topics of interest to the small business community such as small business tax and retirement issues. Office of business Initiatives, U.S. Small Business Administration, Phone 202-205-6655 www.sba.gov/bi
One-Stop Capital Shops Program, Office of Entrepreneurial Development, U.S. Small Business Administration – OSCSs are partnerships between the U.S. Small Business Administration and local communities designed to offer small business assistance at conveniently located, customer-friendly centers. Each OSCS has a state-of-the-art Business Information Center , which provides business development software and Internet access, offers one-on-one business counseling, and facilities financing and Government contracts. Office of Entrepreneurial Development, U.S. Small Business Administration, Phone 202-205-6706 www.sba.gov/onestop
Section 8(a) Program – Provides servicing, marketing support, Federal Government contracts, and other business development assistance to small companies owned by socially and economically disadvantaged people. The Section 8(a) Program works to foster business ownership and the competitive viability of small firms owned by individuals who are socially and economically disadvantaged and to expand their participation in Federal procurement of equipment, products, and services. Office of Minority Enterprise Development, U.S. Small Business Administration, Phone 202-205-6459 www.sba.gov
Small Business Investment Companies Program – This program helps fill the gab between the availability of venture capital and the needs of small businesses in startup and growth situations. SBICs, licensed and regulated by the U.S. Small Business administration (SBA), are privately owned and managed investment firms that use their own capital, plus funds borrowed at favorable rates with an SBA guarantee, to make venture investments in small businesses. All SBICs, are profit-motivated businesses. They provide equity capital, long-term loans, debt-equity investments, and management assistance to qualifying small businesses. Their incentive is the chance to share in the success of small businesses as they grown and prosper. Specialized SBICs, also known as 301(d) SBICs, invest in small businesses owned by entrepreneurs ho are socially or economically disadvantaged (primarily members of minority groups). Investment Division, U.S. Small business Administration, Phone 202-205-6510 www.sba.gov/inv
Office and Small and Disadvantaged Business Utilization’s Short Term Lending Program and Bond Assistance Program – Many disadvantaged and woman-owned business enterprises experience difficulty obtaining short-term working capital or obtaining bid, payment, and performance bonds for transportation-related projects. This program assists disadvantaged entrepreneurs and businesses in overcoming these problems. Short Term Lending Program provides revolving lines of credit to finance accounts receivable arising from transportation-related contracts. The maximum line of credit is $500,000. Bonding Assistance Program provides 80% guarantee against losses on contracts up to $1 million. Funding for the guarantees is provided by Office of Small and Disadvantage Business Utilization and is operated through surety bond agents located in designated areas of the country. Office of Small Disadvantaged Business Utilization, Office of the Secretary, U.S. Department of Transportation, Phone 202-366-1930 www.osdbuweb.dot.gov
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Locate Us
Orange County Economic Development Corporation
1201 Childers Road
Orange, TX 77630
Phone (409) 883-7770
Toll Free (877) 883-7774
Fax (409) 883-7775
