Funding
Funding Opportunities for Your Small Business
Welcome to the Funding page of BOSS, where we provide comprehensive information on funding opportunities available to small businesses in El Paso. Our goal is to support local entrepreneurs in accessing the financial resources they need to succeed.
We collaborate with leading organizations to bring you a variety of funding options tailored to your business needs.
Small Business Administration (SBA)
- 7(a) Loan Program: The SBA’s primary program for providing financial assistance to small businesses. It includes various subprograms like Express Loans, Export Working Capital Loans, and more.
- 504 Loan Program: Provides long-term, fixed-rate financing for major fixed assets like real estate and equipment.
- Microloan Program: Offers small, short-term loans to small businesses and certain types of not-for-profit child care centers.
- SBA Disaster Loans: Provide financial assistance to businesses, homeowners, and renters affected by declared disasters.
Borderplex Community Capital
Borderplex Community Capital is a Community Development Loan Fund that supports economic development in El Paso County, Far West Texas, and Dona Ana County, New Mexico, by providing loans to impactful organizations that don’t meet the qualifications of traditional lenders.
A supporting organization of the El Paso Community Foundation (EPCF), Borderplex seeks to bridge the gap between nonprofits and for-profit businesses, providing low-interest loans to enhance community services in education, healthcare, economic development, and more. By funding women-, veteran-, and minority-owned businesses, Borderplex plays a key role in fostering economic and social improvement across the region.
- Micro-loans: $10,000 to $50,000 for small businesses.
- Secured Nonprofit & Small Business Loans: Up to $1,000,000.
- Owner-Occupied Real Estate Loans: Up to $3,000,000, with terms of up to 120 months.
El Paso Collaborative
El Paso Collaborative is a local certified Community Development Financial Institution (CDFI) providing housing and lending opportunities to families and businesses in El Paso and surrounding areas:
- Microenterprise Technical Assistance Program (MTAP): Offering technical assistance, workshops, and networking events for micro and small businesses.
- Eligibility: Micro and small businesses in El Paso.
- Services: Business plan development, financial forecasting, and access to business resources.
- Small Business Loans: Providing loans ranging from $500 to $50,000 for business start-ups and existing businesses.
- Eligibility: Small businesses in El Paso and contiguous areas.
- Use of Funds: Working capital, equipment purchase, inventory, and more.
- Loan Amounts: $500 to $50,000.
- Interest Rates and Terms: Interest rates do not exceed 10%, with terms ranging from one year up to five years.
JUST El Paso
- Small Business Loans: Offering flexible, low-interest loans to help businesses start and grow.
- Eligibility: Small businesses in El Paso and surrounding areas.
- Use of Funds: Working capital, inventory, equipment, and more.
- Loan Amounts: Up to $50,000.
- Interest Rates and Terms: Low-interest rates with flexible repayment options.
- Business Development Services: Providing mentoring, business plan development, and financial education to help entrepreneurs succeed.
- Eligibility: Open to all small business owners.
- Services: One-on-one mentoring, workshops, and access to business resources.
LiftFund
- Microloans: Small loans up to $50,000 for startups and growing businesses.
- Small Business Loans: Loans up to $500,000 for established businesses.
- Women Entrepreneurs Program: Specialized loan products and business training for women entrepreneurs.
- Veteran Entrepreneur Program: Financial products and services tailored for veteran-owned businesses.
PeopleFund
- Small Business Loans: Loans ranging from $500 to $350,000 for working capital, equipment purchase, real estate, and other business needs.
- Business Education and Resources: Offers free business coaching, educational workshops, and other resources to help businesses succeed.
- Community Development Loans: Supports businesses in economically distressed areas with flexible loan options.
- Veteran Loan Program: Special financing solutions for veteran entrepreneurs.
Have Questions About Funding Opportunities for Your Small Business?
Reach out to us today for guidance and personalized support!
