SPAG Revolving Fund Loan Program

One job must be created or retained for every $65,000.00 borrowed from SPAG-RLF. All SPAG-RLF loans must pay a 1 point (1%) loan origination fee at the time the loan closes. In addition, the borrower is responsible for paying all attorney’s fees and filing fees associated with the loan.

SPAG-RLF loans are available in the following Texas counties: Bailey, Cochran, Crosby, Dickens, Floyd, Garza, Hale, Hockley, King, Lamb, Lynn, Lubbock, Motley, Terry, and Yoakum.

ELIGIBLE USE OF FUNDS

  • Working Capital
  • Consolidation of Accounts Payable
  • Machinery/Equipment
  • Building/Land

TERMS AND INTEREST RATE

  • Terms tied to useful life of assets
  • Rates determined by RLF Board, as low as 4%
  • Fixed interest for the life of the loan
  • No pre-payment penalty

NOTES

  • Existing debt cannot be refinanced
    RLF funds cannot be used for new construction
  • Size of loan may not exceed $250,000

SPAG RLF Sample Financing Structure

1/3 SPAG RLF Loan, 2/3 Match Funds.
Assuming Maximum Amount Borrowed

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