Page 59 - ArlingtonFY24AdoptedBudget
P. 59
Business Plan
Invest in Our Economy
Goal 1: Enhance Economic Impact Through Development and Redevelopment Efforts,
Partnerships, and Investment Opportunities
Objective 2: Build a Strong and Diverse Business Community
Project Performance Measure(s) Department(s)
IOE Small Business Initiative Interactions with Existing Businesses Economic Development
1.2.2
Summary:
Staff is able to respond to information requests from small While fintech loans are open to applicants of any
businesses and provide referrals to relevant partner race/ethnicity, research suggests fintech lenders provide
organizations including the Tarrant County Small Business better racial equity outcomes.
Development Center, Chamber of Commerce, Downtown
Arlington, SCORE Fort Worth, TechFW and EpicMavs. In Fintech Loan Examples
2023, staff will focus on business outreach and continue to • OppFi
stay up to date on resources to assist businesses. $500-$4000
Personal loans, credit card, paycheck tap
• Billd
$25,000 up to $6 million
Working capital, term loans, comm real estate
• Biz2Credit
Up to $500,000
Construction only- Payment direct to supplier
• Fundbox
Up to $1 million
Business loans, business financing
• Bondstreet
Up to $150,000
Business line of credit, term loans
FY 2024 Adopted Budget and Business Plan 50 City of Arlington, Texas
