Caprock Business Finance Corporation is a non-profit entity created under the auspices of the South Plains Association of Governments (SPAG) in 1983. SPAG’s mission is to maintain and improve the quality of life for all people in the region by advancing the interests and enhancing the capabilities of its members. In pursuit of this mission, SPAG reviews and coordinates federal, state, and local programs of regional significance in order to maximize its economy, efficiency, and effectiveness.


The purpose of Caprock is to be an economic development tool charged with administering the US Small Business Administration 504 commercial real estate loan program. We are housed in the Economic Development Department at SPAG. Caprock is a designated Certified Development Company (CDC) with the authority to make a 504 loan anywhere in the state of Texas, though we focus on creating these loans in the South Plains and Permian Basin regions in order to positively impact job creation and retention in our region. As a CDC, we are responsible for marketing the 504 program and servicing our entire loan portfolio throughout the life of the loan. The goals of the 504 program are to create economic development opportunities in communities, provide affordable long-term financing for business expansion, give a financial incentive to encourage private lender participation, stimulate business capital investment, and to provide small businesses with access to public capital markets.