Funding
Funding Opportunities for Your Small Business
Welcome to the BOSS Funding page, your guide to funding opportunities for small businesses in El Paso. We partner with top organizations to offer tailored financial resources that help local entrepreneurs succeed.
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, a supporting organization of the El Paso Community Foundation, is a Community Development Loan Fund serving El Paso County, Far West Texas, and Doña Ana County, New Mexico. It provides low-interest loans to nonprofits, women-, veteran-, and minority-owned businesses, supporting education, healthcare, and economic development while fostering regional economic and social growth.
- Micro-loans: $20,000 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.
- 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.
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!
