The Revolving Loan Fund (RLF) Program, administered by the Hidalgo Economic Development Corporation (HEDC) with funding provided in part by U.S. Departments of Agriculture as well as other private sources, provides local small and emerging businesses with monies to stimulate economic development. Funds are granted to local governments that, in turn, use the monies to provide loans to new and expanding businesses. Businesses, in return for use of the public funds, provide private investment towards the assisted activity and create job opportunities, principally for the benefit of low- and moderate-income persons.
The community then uses (or revolves) repaid loans to capitalize the local RLF program. With the RLF, additional loans are made to businesses that are expanding or locating in the community and willing to create jobs. When successfully administered, the RLF can provide a viable source of financing that fills the “gap” between the monies that are available through the private sector and the amount needed to complete a project. In making a RLF loan to a business, communities act like a “bank” and accept responsibilities comparable to a commercial lender.
HIDALGO Downtown Coma & Bridge St. Signage, Awning, and Façade Improvement Grant Program
The Downtown Hidalgo Signage, Awning, and Façade Improvement Grant Program is part of the Hidalgo Economic Development Corporation’s Plan to beautify Hidalgo, and is designed to improve the aesthetics of the downtown district, which will result in additional business activity in the downtown corridor.
This program provides grant funding for commercial businesses located in Hidalgo’s Coma & Bridge St. Downtown District to renovate their place of business. This program specifically addresses the importance of commercial revitalization in order to attract new business and customers.
Private Loan Services
We will help you look for private funds from different sources such as People Fund.