Elsa EDC launches loan initiative designed to boost small business growth

ELSA, TEXAS – In partnership with LiftFund, Elsa Economic Development Corporation is launching “Lift Elsa Incentive Program,” a small business loan initiative designed to boost cash flow and provide affordable capital for businesses in the city.

Daniel Rivera, executive director of Elsa EDC, said the program offers zero-percent interest loans to eligible businesses. Through this initiative, he said, Elsa EDC is buying down the interest on loans up to $50,000, eliminating interest costs and allowing small businesses to invest in growth without financial strain. 

Rivera said the initiative provides a much-needed financial boost, empowering small businesses to expand, invest in new equipment, and create jobs without the burden of high-interest debt.

“This program has the power to inject meaningful capital into Elsa’s economy,” Rivera said. “We’re not just providing funding—we’re creating opportunities for small businesses to thrive, scale, and contribute to the long-term economic vitality of our city.”

Unlike traditional bank loans, securing funding through LiftFund increases the likelihood of approval for local entrepreneurs, Rivera argued. He said the EDC is actively guiding business owners through the application process, ensuring they have the necessary resources and support to access these funds.

“By working with LiftFund, we’re removing barriers that often make it difficult for small businesses to access capital,” Rivera explained. “This program provides a direct path to funding, offering a real advantage for businesses looking to grow.”

The loan amounts available range from $5,000 to $50,000, with the size of each loan determined through a consultation process to best fit the business’s needs.

“For the first time, we have a tool that allows us to directly support small businesses with low-cost capital,” Rivera added. “This program strengthens our local economy and sets the stage for long-term growth in Elsa.”

Marlene Rodriguez is LiftFund’s market director in the Rio Grande Valley. She praised Elsa’s proactive approach to supporting its small business community.

“The response from local entrepreneurs has been great,” Rodriguez said. “There’s still work to do in spreading the word, but this program is a tremendous asset for business owners looking to grow and invest in their futures.”

Rodriguez said funds secured through LiftFund can be used for a variety of business needs, including hiring and retaining employees, purchasing new equipment, and expanding operations. 

Rodriguez said that as a nonprofit lender, LiftFund provides an accessible and community-focused financing option. Rivera said this aligns with Elsa’s mission to drive economic development.

Editor’s Note: For more information about the Lift Elsa Incentive Program, contact Elsa Economic Development Corporation at 956-262-2127.

The post Elsa EDC launches loan initiative designed to boost small business growth appeared first on Rio Grande Guardian.