Under this program, the BCIC will provide micro-loans to businesses negatively affected by the COVID-19 virus. Businesses with fifty (50) employees and has at least one (1) full-time low-to-moderate income employee (The prior eligibility was 15 or fewer employees). Funds will be used to pay for normal businesses expenses that have been made more difficult due to declining revenues caused by the COVID-19 virus.

This program is a short-term 0% interest forgivable loan program up to $20,000 to assist businesses with up to fifty (50) employees at the time of application, or up to five (5) employees (including the owner) with low to moderate income owner. The business must demonstrate a loss of gross revenue of 15% or more as a result of the COVID-19 pandemic to be considered for funding. Businesses must have a physical location in the City of Brownsville.

Funding is limited and applications will be accepted online using our application portal ending December 1, 2023, or when the max number of applications have been received; whichever comes first.

Due to the anticipated number of submissions, allocated funds to the loan program may be exhausted before December 1, 2023.

To meet the threshold for this loan there must be sufficient documentation that the jobs would have been lost without the loan assistance. This will include the certification provided by downloading and completing the Self Certification of Income Form, for a full-time equivalent (FTE) low/moderate income employee or a business owner included with the online application.

BCIC requires either that (i) a business owner submitting the application for the loan must be a low/moderate income individual or (ii) the business must provide evidence that at least one (1) low/moderate income employee is being retained. The Self Certification of Income form can be downloaded from BCIC’s website at https://brownsvilleedc.org/reopen-docs/ and include the form with the application.

Brownsville Community Improvement Corporation will be offering forgivable loans. This loan will have a three-year term at a 0% interest rate. If your business is able to retain at least ONE low- or moderate-income full-time employee or equivalent for the first three months after the receipt of loan funds, business remains in good standing and is operating at current or more occupancy at the time of application submission, then the loan will be completely forgiven.

If your business is unable to provide such documentation, it will not be deemed to have met the requirements to enable it to be forgiven, however repayment will be deferred for the first twelve (12) month period after the loan is administered. Businesses will begin monthly loan repayments on month 13. After repayment begins, businesses shall have two (2) years (twenty-four (24) months) to complete full repayment of the loan.

Eligible recipients must have their businesses located within the City limits of Brownsville, Texas and have up to 50 employees at the time of application submission. Businesses must meet ONLY one of the following two criteria:

Small businesses, meeting the criteria stated above, that have experienced 15% or more loss in revenue due to the COVID-19 virus are eligible to apply for this loan program. Funds may be used for operating expenses, for running day to day business operations including but not limited to covering payroll and rent. Loan funds are for commercial purposes only. Funds cannot to be used for equipment purchases, construction or expansion related costs, pay off non-business debt, such as personal credit cards for purchases not associated with the business.

The Brownsville Community Improvement Corporation (BCIC) is a CDBG grantee and, as such, must establish and maintain adequate procedures to prevent any duplication of benefits. A duplication of benefits occurs when a person, household,business, government, or other entity receives financial assistance from multiple sources for the same purpose, and the total assistance received for that purpose is more than the total need for assistance. Grantees must check to see that subrecipients, assisted individuals or families,businesses, and other entities that receive CDBG assistance have not previously received, or will not receive, duplicative assistance from another source before CDBG assistance is provided.

BCIC is accomplishing this duplication of benefits analysis by requiring these entities and beneficiaries to provide a self-certification indicating that they have not received, and do not reasonably anticipate receiving,a duplicative benefit, and requiring them to list potentially duplicative assistance that they have already received, or reasonably anticipate receiving. Please download and complete the Duplication of Benefits Affidavit Form located on BCIC’s website at https://brownsvilleedc.org/reopen-docs/ and include the form with the online application

Once you have decided to apply, you will need to collect appropriate documents for your application. Download the Checklist to ensure you have everything to complete your application. Please feel free to call our COVID-19 Business Hotline for assistance with any documentation you may need.

Please note, this loan program and any specific loans are contingent upon the availability of funds. If at any time, this funding source is depleted, this loan program and any commitments to fund specific loans may become null and void. Due to the anticipated number of submissions and limited application submissions, allocated funds to the loan program may be exhausted before December 1, 2023. Applications will be review and evaluated on eligibility and based on the number of eligible applicants and limited funding, applications may be chosen via a lottery system.

Applications close December 1, 2023, by 12:00 P.M. OR when max number of applications have been received; whichever comes first. You may begin an application at any time and save your progress as you go. Please note that all documentation must be included in your application in order to submit. We expect a large influx of applications in the short application window and recommend all applicants to submit their application as soon as possible.

Please only begin your application if you know you will be able to obtain all the necessary documentation. To apply, click on the “Apply Now” button below and create a member account to begin the application process. If you have any questions or concerns, please call 956-382-7500.