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.
The eBridge Fund loan is not designed to finance projects entirely. Applicants must demonstrate that they have 10–15 percent of the requested amount as available capital for their project. The exact amount will be determined after the review of each application. It is the responsibility of the applicant to provide evidence of their available capital, which may include personal or business savings. The eBridge Fund reserves the right to deny any loan application if the applicant cannot demonstrate sufficient available capital to complete the project.
Loan amounts : $15,000 - $100,000
Startup Businesses: (0-3 years old): Can apply for loans up to $50,000
Existing Businesses (3+ years old): Can apply for loans up to $100,000
*Program funding is limited, and consideration of loan applications is subject to the availability of funds.
Interest rates: Fixed, As low as 6.25%.
*Subject to change based on the prime rate quoted in the Wall Street Journal.
Length of Terms:
Working Capital: 3 to 5 years
Machinery & Equipment: 10 years
Real Estate: 15 years
Collateral : All loans require collateral; the type and amount required will vary depending on the risk involved with each loan. Assets belonging to the company, such as inventory, machinery, equipment, fixtures, and accounts receivable, as well as the owner's personal property, can serve
Down Payment: Each project will require a minimum of 10% down payment.
Origination Fee: 3%
*The loan origination fee may be financed by the eBridge Fund for amounts above $25,000.
$150.00 (non refundable)
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. (must have a brick-and-mortar location)
(2) Create new employment opportunities with competitive wages.
(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 and equipment
Targeted public infrastructure
Ready to Start or Scale your Business?
Before you Apply:
At eBridge Fund, we enjoy taking time to get to know both you and your business. We want to ensure that you are ready to borrow, and matched with the right loan program and amount.
Complete the Pre-Applicationto determine your eligibility. We will get back to you within 5-7 business days.
If you need assistance with creating a business plan be sure to connect with our diverse partner network including: SCORE, your local Small Business Development Center and the UTRGV ECC and the BrownsvilleChamber of Commerce. Do you still have questions after reviewing the pre application and the application checklist? Click below to get in contact with a team member to answer your specific questions about our loan process.
The eBridge Fund is designed to be flexible in meeting your needs. Collateral requirements, credit determinations, and loan terms are evaluated on a case-by-case basis. In general, here’s what we’re looking for:
Character: Are the owners dedicated, hard working, and qualified to run the business?
Capacity: Is the business plan viable? Will the borrower be able to repay the loan (and other bills)?
Conditions: Do the mutually agreeable terms and conditions meet the business needs?
Complete a loan application by clicking the "APPLY NOW" button below. We encourage you to view the application checklist to have all documents ready before submitting the application. The application is available online, you must create an account using your email. All documents shall be uploaded via the application portal for the application to be considered complete.
As soon as the application is complete the applicant will be notified; the application fee must be payed via the application portal or by check or money order payable o Brownsville Community Improvement Corporation.
The application will ONLY be reviewed when the application fees have been payed.
Applications will be accepted on a monthly basis; the submission deadline is the last day of each month. For example, if the applicant submits the COMPLETE application in January, it will be presented for board consideration at the February board of directors meeting. This allows sufficient time for staff to review the application, seek clarification if needed, and ensure that it is complete and ready for Board consideration.
In the event of any pending documents, questions, or comments that require changes, alterations, or adjustments to the proposed project, the BCIC staff will contact the applicant to notify them.
All applications must be approved by the BCIC Board of Directors. Completed applications will be presented for consideration by the BCIC Board at the scheduled meeting. After the application has been approved by our Board of Directors, the applicant can expect to receive the funds within 15-30 days of the approval date.
After you Apply:
The relationship between the eBridge Fund and its clients does not end at loan closing. The eBridge Fund and its partner networks provide ongoing business support.
We provide direct business advisory services and help facilitate other business services through our partner networks. We perform regular business checkups to make sure that your business is succeeding as planned and can help facilitate additional funding as needed.
Payment schedules & methods will be discussed as part of the loan application and closing process.