{"id":145,"date":"2017-01-20T11:49:34","date_gmt":"2017-01-20T11:49:34","guid":{"rendered":"http:\/\/sw-themes.com\/porto_dummy\/expertise\/corporate-finance-copy\/"},"modified":"2020-09-09T14:59:28","modified_gmt":"2020-09-09T14:59:28","slug":"revolving-loans","status":"publish","type":"page","link":"https:\/\/edc.cityoflajoya.net\/index.php\/incentives\/revolving-loans\/","title":{"rendered":"Revolving Loan Program"},"content":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/2&#8243; offset=&#8221;vc_col-lg-8 vc_col-md-8&#8243;][vc_column_text el_class=&#8221;m-b-md&#8221;]The Revolving Loan Program is just one of the incentives the La Joya Economic Development Corporation has established as part of our efforts to encourage business growth and job creation in the city. This program is designed to assist small businesses and start-ups by providing a low-cost alternative financing option.<\/p>\n<p>Have questions about this or any of our other incentive programs for your business? We encourage you to contact the La Joya EDC today at edc@cityoflajoya.org<\/p>\n<p>&nbsp;<\/p>\n<h2>Steps for the <span class=\"orangeText\">Loan Process<\/span><\/h2>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/2&#8243; offset=&#8221;vc_col-lg-4 vc_col-md-4&#8243;][vc_single_image image=&#8221;366&#8243; img_size=&#8221;large&#8221;][\/vc_column][\/vc_row][vc_row parallax=&#8221;content-moving&#8221; parallax_image=&#8221;491&#8243;][vc_column offset=&#8221;vc_col-lg-8 vc_col-md-8&#8243;][vc_row_inner][vc_column_inner offset=&#8221;vc_col-lg-4 vc_col-md-4&#8243;][vc_column_text css=&#8221;.vc_custom_1596087469855{margin-bottom: 13px !important;}&#8221;]Phase 1<\/p>\n<ul class=\"list list-icons list-icons-style-3 list-tertiary\">\n<li><i class=\"fa fa-chevron-right\"><\/i>Fill out a loan application<\/li>\n<li><i class=\"fa fa-chevron-right\"><\/i>Prepare your Business Plan<\/li>\n<li><i class=\"fa fa-chevron-right\"><\/i>Prepare intended Budget (use of Funds)<\/li>\n<li><i class=\"fa fa-chevron-right\"><\/i><strong>Submit<\/strong> all Documents to the La Joya EDC via mail or hand deliver<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column_inner][vc_column_inner offset=&#8221;vc_col-lg-4 vc_col-md-4&#8243;][vc_column_text css=&#8221;.vc_custom_1596087548177{margin-bottom: 13px !important;}&#8221;]Phase 2 Review<\/p>\n<ul class=\"list list-icons list-icons-style-3 list-tertiary\">\n<li><i class=\"fa fa-chevron-right\"><\/i>EDC begins the loan application review to determine eligibility<\/li>\n<li><i class=\"fa fa-chevron-right\"><\/i>applicant will be notified of eligibility status<\/li>\n<li><i class=\"fa fa-chevron-right\"><\/i>If eligible, the loan application will be presented to the Loan Review Committee<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column_inner][vc_column_inner offset=&#8221;vc_col-lg-4 vc_col-md-4&#8243;][vc_column_text]Phase 3 Approvals<\/p>\n<ul class=\"list list-icons list-icons-style-3 list-tertiary\">\n<li><i class=\"fa fa-chevron-right\"><\/i>Committee recommendation will be presented to the EDC Board for final approval<\/li>\n<li><i class=\"fa fa-chevron-right\"><\/i>The applicant will be notified of the Board\u2019s decision to approve or deny the loan application as well as loan specific terms, when applicable<\/li>\n<\/ul>\n<p>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text]<\/p>\n<div class=\"vc_row wpb_row vc_row-fluid\">\n<div class=\"wpb_column vc_column_container vc_col-sm-12\">\n<div class=\"vc_column-inner \">\n<div class=\"wpb_wrapper\">\n<div class=\"wpb_text_column wpb_content_element \">\n<div class=\"wpb_wrapper\" style=\"text-align: center;\">\n<h2>Initial Documents for <span class=\"orangeText\">Loan Application<\/span><\/h2>\n<h2><a href=\"https:\/\/edc.cityoflajoya.net\/wp-content\/uploads\/2020\/09\/EDC-applicatant-packet-1.pdf\">EDC applicant packet (1)<\/a><\/h2>\n<hr class=\"separator small left\" \/>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"vc_row wpb_row vc_row-fluid\">\n<div class=\"wpb_column vc_column_container vc_col-sm-12\">\n<div class=\"vc_column-inner \">\n<div class=\"wpb_wrapper\">\n<div class=\"wpb_text_column wpb_content_element \">\n<div class=\"wpb_wrapper\">\n<ul>\n<li>Business Plan<\/li>\n<li>List of Board Members (corporations only)<\/li>\n<li>2 years of Income Tax Returns \u2013 Business or Personal (most current copies)<\/li>\n<li>Year-end financial statement from existing organization<\/li>\n<li>IRS 501 (c) 3 letter (or similar), if applicable<\/li>\n<li>Purpose of loan<\/li>\n<li>Balance sheet (yearly)<\/li>\n<li>Profit and Loss Statement (last quarter)<\/li>\n<li>Project Budget<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>[\/vc_column_text][\/vc_column][vc_column css=&#8221;.vc_custom_1485409390575{margin-bottom: 25px !important;}&#8221; offset=&#8221;vc_col-lg-4 vc_col-md-4&#8243;][vc_custom_heading text=&#8221;- Our Strategy&#8221; font_container=&#8221;tag:h2|font_size:20|text_align:left|line_height:42px&#8221; use_theme_fonts=&#8221;yes&#8221; el_class=&#8221;font-weight-bold&#8221; css=&#8221;.vc_custom_1485409276923{margin-bottom: 10px !important;}&#8221;]<div class=\"porto-block\"><style>.vc_custom_1485163160234{margin-right: -12px !important;border-right-width: 1px !important;padding-right: 12px !important;border-right-color: #e4e4e4 !important;border-right-style: solid !important;}.vc_custom_1485163264262{margin-right: -12px !important;border-right-width: 1px !important;padding-right: 12px !important;border-right-color: #e4e4e4 !important;border-right-style: solid !important;}.vc_custom_1485163279912{margin-right: -12px !important;border-right-width: 1px !important;padding-right: 12px !important;border-right-color: #e4e4e4 !important;border-right-style: solid !important;}<\/style><div class=\"porto-carousel owl-carousel has-ccols ccols-1 numbered-dots custom-step-items\" data-plugin-options=\"{&quot;stagePadding&quot;:0,&quot;margin&quot;:10,&quot;autoplay&quot;:false,&quot;autoplayTimeout&quot;:5000,&quot;autoplayHoverPause&quot;:false,&quot;items&quot;:1,&quot;lg&quot;:1,&quot;md&quot;:1,&quot;sm&quot;:1,&quot;xs&quot;:1,&quot;nav&quot;:false,&quot;dots&quot;:&quot;yes&quot;,&quot;animateIn&quot;:&quot;&quot;,&quot;animateOut&quot;:&quot;&quot;,&quot;loop&quot;:false,&quot;center&quot;:false,&quot;video&quot;:false,&quot;lazyLoad&quot;:false,&quot;fullscreen&quot;:false}\">[vc_row_inner][vc_column_inner width=\"1\/6\" offset=\"vc_col-xs-2\"][vc_column_text css=\".vc_custom_1485163160234{margin-right: -12px !important;border-right-width: 1px !important;padding-right: 12px !important;border-right-color: #e4e4e4 !important;border-right-style: solid !important;}\"]\r\n<p style=\"line-height: 28px; text-align: center;\"><strong>STEP<\/strong>\r\n<span style=\"font-size: 42px;\"><strong><span style=\"color: #4dbb6d; letter-spacing: -4px;\">01<\/span><\/strong><\/span><\/p>\r\n[\/vc_column_text][\/vc_column_inner][vc_column_inner el_class=\"m-b-md\" width=\"5\/6\" offset=\"vc_col-xs-10\"][vc_custom_heading text=\"Empowering Business\" font_container=\"tag:h4|text_align:left\" use_theme_fonts=\"yes\" el_class=\"m-b-none\"][vc_custom_heading text=\"<strong>Evaluating &amp; Accessing<\/strong>\" font_container=\"tag:h4|font_size:20|text_align:left\" use_theme_fonts=\"yes\" el_class=\"mb-xlg font-weight-bold\"][vc_column_text el_class=\"m-t-lg\"]As part of phase one we facilitate with :\r\n<ul>\r\n \t<li>Technical Assistance in business and financial planning<\/li>\r\n \t<li>Site selection services , while aiding throughout the negotiation<\/li>\r\n \t<li>Paperwork and Permits<\/li>\r\n<\/ul>\r\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=\"1\/6\" offset=\"vc_col-xs-2\"][vc_column_text css=\".vc_custom_1485163264262{margin-right: -12px !important;border-right-width: 1px !important;padding-right: 12px !important;border-right-color: #e4e4e4 !important;border-right-style: solid !important;}\"]\r\n<p style=\"line-height: 28px; text-align: center;\"><strong>STEP<\/strong>\r\n<span style=\"font-size: 42px;\"><strong><span style=\"color: #4dbb6d; letter-spacing: -4px;\">02<\/span><\/strong><\/span><\/p>\r\n[\/vc_column_text][\/vc_column_inner][vc_column_inner el_class=\"m-b-md\" width=\"5\/6\" offset=\"vc_col-xs-10\"][vc_custom_heading text=\"Expansion &amp; Retention \" font_container=\"tag:h4|text_align:left\" use_theme_fonts=\"yes\" el_class=\"m-b-none\"][vc_custom_heading text=\"Certifications, Networking, Investment Planning\" font_container=\"tag:h4|font_size:20|text_align:left\" use_theme_fonts=\"yes\" el_class=\"mb-xlg font-weight-bold\"][vc_column_text el_class=\"m-t-lg\"]Phase two involves networking and promoting the business to generate concepts and work towards expansion of the ideas and strategies. While at the same time, planning the investment strategy when eligible backed by EDC loans. Phase two also sees the EDC to work with businesses to obtain certifications\r\n<ul>\r\n \t<li>HUB Certification<\/li>\r\n \t<li>UTPA Procurement Technical Assistance Center<\/li>\r\n \t<li>8A Certification<\/li>\r\n \t<li>Corporate Certification<\/li>\r\n<\/ul>\r\n[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner][vc_column_inner width=\"1\/6\" offset=\"vc_col-xs-2\"][vc_column_text css=\".vc_custom_1485163279912{margin-right: -12px !important;border-right-width: 1px !important;padding-right: 12px !important;border-right-color: #e4e4e4 !important;border-right-style: solid !important;}\"]\r\n<p style=\"line-height: 28px; text-align: center;\"><strong>STEP<\/strong>\r\n<span style=\"font-size: 42px;\"><strong><span style=\"color: #4dbb6d; letter-spacing: -4px;\">03<\/span><\/strong><\/span><\/p>\r\n[\/vc_column_text][\/vc_column_inner][vc_column_inner el_class=\"m-b-md\" width=\"5\/6\" offset=\"vc_col-xs-10\"][vc_custom_heading text=\"Development of Workforce\" font_container=\"tag:h4|text_align:left\" use_theme_fonts=\"yes\" el_class=\"m-b-none\"][vc_custom_heading text=\"Strong &amp; Educated Workforce \" font_container=\"tag:h4|font_size:20|text_align:left\" use_theme_fonts=\"yes\" el_class=\"mb-xlg font-weight-bold\"][vc_column_text el_class=\"m-t-lg\"]Phase three involves working with local institutions, higher education, and technical institutes to develop a workforce that is prepared to meet today's job requirements.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner]<\/div><\/div>[\/vc_column][\/vc_row]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;1\/2&#8243; offset=&#8221;vc_col-lg-8 vc_col-md-8&#8243;][vc_column_text el_class=&#8221;m-b-md&#8221;]The Revolving Loan Program is just one of the incentives the La Joya Economic Development Corporation has established as part of our efforts to encourage business growth and job creation in the city. This program is designed to assist small businesses and start-ups by providing a low-cost alternative financing option. Have [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":17,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/pages\/145"}],"collection":[{"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/comments?post=145"}],"version-history":[{"count":5,"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/pages\/145\/revisions"}],"predecessor-version":[{"id":417,"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/pages\/145\/revisions\/417"}],"up":[{"embeddable":true,"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/pages\/17"}],"wp:attachment":[{"href":"https:\/\/edc.cityoflajoya.net\/index.php\/wp-json\/wp\/v2\/media?parent=145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}