The Elsa Economic Development Corporation is looking to support local entrepreneurs with the launch of the Lift Elsa Incentive Program. The small business loan initiative will boost cash flow and provide affordable capital for businesses in Elsa.
In partnership with LiftFund, the program offers zero-percent interest loans to eligible businesses. Through this initiative, the Elsa EDC is buying down the interest on loans up to $50,000. They are eliminating interest costs while also allowing small businesses to invest in growth without financial strain. This initiative empowers small businesses to expand, invest in new equipment, and create jobs without high-interest debt.
“This program has the power to inject meaningful capital into Elsa’s economy,” said Daniel Rivera, executive director of the Elsa EDC. “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.”
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.”
Multi-Faceted Support
The loan amounts available range from $5,000 to $50,000. The size of each loan is 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, LiftFund’s Market Director in the Rio Grande Valley, 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.”
Business owners can use funds for a variety of business needs, including hiring and retaining employees, purchasing new equipment and expanding operations.