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Brownsville (Re)Open For Business Forgivable Loan Program

00:14:35

Cornyn Pledges to Help Texas Recover, Rebuild

U.S. Senator John Cornyn (R-TX) spoke on the Senate floor for the first time following severe winter weather and associated power and water outages in Texas last week.
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Texas Border Business

The Brownsville (Re)Open For Business Forgivable Loan Program’s primary objectives are to support eligible retail, food, personal services, and non-profit businesses that employ low- and moderate-income persons to retain jobs for city residents and stabilize local businesses.

The program is a short-term 0% interest forgivable loan program up to $10,000 to assist businesses with up to fifteen (15) employees at the time of application, or up to five (5) employees with low to moderate income owner. $500,000 funds available and expect to assist up to 100 businesses and nonprofits.

Applications are not awarded on a first-come, first-serve basis. Applications will be scored according to the scoring criteria. Top scoring applications will be recommended for approval until all funding is exhausted. If there are more eligible applications than funding, Brownsville Community Improvement Corporation will use a lottery process to select applicants.

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