Page 417 - FY 2025 Adopted Operating Budget and Business Plan

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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:
While fintech loans are open to applicants of any
Staff is able to respond to information requests from small race/ethnicity, research suggests fintech lenders provide
businesses and provide referrals to relevant partner better racial equity outcomes.
organizations including the Tarrant County Small Business
Development Center, Chamber of Commerce, Downtown Fintech Loan Examples
Arlington, SCORE Fort Worth, TechFW and EpicMavs. In • OppFi
2023, staff will focus on business outreach and continue to $500-$4000
stay up to date on resources to assist businesses. Personal loans, credit card, paycheck tap
• Billd
Update: $25,000 up to $6 million
Staff is researching options to create an interest buy-down Working capital, term loans, comm real estate
program to offer affordable loans to small businesses in • Biz2Credit
partnership with lenders and local banks. Up to $500,000
Construction only- Payment direct to supplier
Staff is also creating a partnership with Arlington • Fundbox
Independent School District to enhance entrepreneurship Up to $1 million
offerings for AISD students to launch small businesses. Business loans, business financing
• Bondstreet
Up to $150,000
Business line of credit, term loans

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