BCL of Texas Receives Award for $489,000 from US Treasury for Business Capital Lending

Sept. 30, 2011 - PRLog -- Austin, Texas – Business and Community Lenders (BCL) of Texas, a statewide non-profit Community Development Financial Institution (CDFI), has received an award of $489,000 from the US Treasury to assist small businesses throughout Texas with expansion loans.

The Small Business Lending Fund, created by the Small Business Jobs Act of 2010, aims to amplify investments in small businesses across the country to support the nation’s economic recovery.  This loan program is designed to reduce the barriers to entrepreneurship in order to diversify and strengthen the Texas economy.

“BCL is honored to be awarded this funding, in addition to our recent one million CDFI award this summer,” says Rosa Rios Valdez, CEO.  “Our Loan Officers across Texas are ready to assist the entrepreneurs of this state to secure the capital they need to grow.”

BCL of Texas was one of two CDFI recipients in Texas to receive this competitive award.  As a statewide lender for 21 years, the capital is expected to move quickly into the hands of small business owners, with loans from $50,000 up to $250,000.  Interested parties are urged to contact BCL at (888)718-0180 for further information on requirements & consideration for funding, or visit www.bcloftexas.org.

# # #

Established in 1990 as a statewide not-for-profit Certified Development Corporation, BCL of Texas successfully promotes business and community development and provides business capital and commercial real estate loans throughout Texas. True to its mission to create jobs through business development, BCL of Texas has helped to create jobs for more than 4,400 Texans. In addition to providing businesses with counseling and technical assistance, BCL of Texas originates, underwrites, processes, closes and services business loans to healthy, growing businesses. The organization also offers homebuyer education classes, assists first-time homebuyers with the purchase of their first home and helps customers remain responsible and successful homebuyers. BCL of Texas is a member of the nationwide NeighborWorks® Network, which engages in revitalization strategies that strengthen communities and transform lives. For more information, visit www.bcloftexas.org.