Loans are for established for-profit businesses that are ready to expand by purchasing fixed assets ranging from $500,000 to $10 million dollars in size.
The business must have a net worth less than $15 million and average annual after tax profits of less than $5 million.
A policy goal is one new job must be created for every $65,000 worth of financing from the SBA. For manufacturers, the new job creation requirement is one new job for $100,000 in SBA financing.
*H-GALDC’s maximum participation is usually $5,000,000. The ceiling may increase to $5.5 million in the following cases:
Please be advised that H-GALDC will not be able to offer loans for speculative, passive or investment businesses. Other restrictions may apply. Below is a a short list of eligible uses for the loan proceeds. Please contact us to find out more.
Omar FortuneManager(713) 993-2409Omar.Fortune@h-gac.com