The eBridge Fund program is designed to provide a more attainable option for businesses who are otherwise unable to obtain conventional bank financing or need a more competitive rate in comparison to current market rates. The objective of the eBridge Fund is to serve as an economic development tool to encourage business retention and expansion, relocation of businesses to Cameron County as well as assisting new start-ups that in return will retain and/or create employment opportunities and stimulate investment in the community.
Loan Requirements & Limits
Loan amounts : $15,000-$500,000
Interest rate: Fixed, as low as 3.75% or as determined by the Loan Review Committee.
Working Capital: 3 to 5 years
Machinery & Equipment: 10 years or useful life
Real Estate: 15 years
Fixed Asset: 10 % equity contribution
Working Capital: 15% equity contribution
Collateral : Loans shall be secured with the best available collateral
Origination Fee: 3%
To be eligible for our eBridge Fund, your organization must
(1) have an existing business or start-up business in the eligible lending area- Cameron County.
(2) Create new employment opportunities
(3) Demonstrate credit worthiness and the ability to repay the loan.
(4) Submit required financial documents and other supporting documents
(5) Loan projects must be in compliance with city and county land-use plans and regulations.
Acquisition of land and/or buildings
Site preparation, construction, and/or rehabilitation of buildings, leasehold
The purchase of equipment, machinery and/or fixtures for business operations and/or installation of fixed machinery