Page 335 - CityofArlingtonFY26AdoptedBudget

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:
o Receive reimbursement for certification
Staff are supporting the mission of creating a vibrant, fees (up to $650 per business; $25,000 total
globally connected and innovative community. program fund).
• Strategic Solutions Fund Relaunch
The now active Interest Buydown Program in partnership In partnership with Texas Manufacturing Assistance
with LiftFund directly benefits eligible small business Center (TMAC), this fund supports Arlington
owner/operators with 0% interest loans to access capital manufacturers by enhancing:
to continue business growth, retention, and expansion in o Profitability, operational efficiency, and
the City of Arlington. sustainability through TMAC-led
assessments, training, and services.
• Structure: LiftFund reviews applications from o Funding Tiers:
Arlington-based small businesses who attest in ▪ Businesses with 51–250
writing that they have been unable to secure employees: Up to $10,000.
funding from traditional sources to determine ▪ Businesses with 50 or fewer
eligibility for the program. employees: Up to $5,000.
• City Contribution: The City has provided a grant o Total available funding: $100,000.
of $300,000 to buy down the interest on Liftfund’s Update:
loans to eligible Arlington businesses to bring the The Arlington EDC is planning the Industry-Specific Small
interest rate to 0%. Business Cohorts to strengthen the support system for
• Loan Goals: LiftFund aspires to provide at least Arlington-based small businesses by:
twenty-two (22) small business owners 0% loans, • Connecting them to larger enterprises and
up to $100,000 per loan, totaling $1.1 million in subject-matter experts
potential capital. • Creating industry-specific programming, meeting
• Progress to Date: 10 businesses have been businesses where they are with content that
funded up $275,000 with $111,846 funds directly speaks to the challenges and
remaining. opportunities in their sector
• IEDC Excellence Awards 2025 – Bronze Winner The first three industry cohorts will focus on:
o The Arlington LiftFund Interest • Professional Services
Buydown Program was awarded a • Food & Beverage
Bronze award in the Innovative • Construction & Trade
Financing category by the These sectors were selected based on data gathered
International Economic through the Industry-Focused Cohort Program Design
Development Council (IEDC). Survey, which received over 206 responses from
stakeholders across Arlington. The selection process was
• The Arlington Business Certification Program further guided by priorities outlined in the Arlington EDC
In partnership with MWBE, SBA, NCTRCA, DFW Strategic Plan, ensuring alignment with citywide economic
MSDC, and WBC-SW, this program will help development goals.
Arlington-based small business owners: This initiative represents a proactive step in Arlington’s
o Gain industry-recognized certifications to commitment to cultivating a thriving small business
boost credibility and market reach. community by providing relevant, high-impact
o Access tailored workshops and technical programming that fosters long-term success.
assistance.

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