Access to capital

Cash Flow

• Do you have the funds (after you pay your monthly bills) to pay this loan/line/credit card?

Collateral

• Do you have cash/home/commercial property that you can use as collateral?

Capital

• What is your income?
• Is your business making money or reporting all losses? (please do't do this)

Character

• Is your credit score 640 or higher with no late payments, bankruptcies, tax or child support payments in at least 3-5 years?
• Think of the 5-5-5 method
  • 5 years of no late payments
  • 5 open credit trades
  • 5 years of payment (don't let your credit just sit there)

Conditions

• Is the business you are opening a hobby or a necessity in your service area?

The LiftFund

The LiftFund is a private, independent, non-profit CDFI and Community Development Corporation (CDC) that supports small business owners with limited access to capital through small business loans and technical support for their dreams of entrepreneurship. 

Project Vida Microenterprise Technical Assistance Program

The Microenterprise Technical Assistance Program (MTAP) encourages business development and economic expansion in El Paso County with funding from the City of El Paso's Community Development Block Grant program, United Way, financial institutions, corporations, and various private sources. 

* A microenterprise is a business with five or fewer employees. Owner must work full-time in the business and qualify based on HUD income guidelines. 

PeopleFund

PeopleFund provides flexible loans to small businesses, startups and nonprofit organizations across Texas. They focus on women, minorities, veterans, and businesses in low to moderate-income areas to make sure everyone has a chance.

Saba Investments

Saba Investments is an early stage venture capital fund structures to identify and cultivate untapped investment opportunities in the Rio Grande Innovation Corridor, stretching from Albuquerque to El Paso-Cuidad Juarez. They look to invest in early stage companies that have some find of revenue and/or proven business model. They do limit their investments to $200,000 USD.