The LEDC's Loan Program is intended to increase the availability of credit otherwise not available based on normal lender underwriting criteria due to the newness of the business, lack of equity, collateral valuation or other problems. The program is not intended to refinance existing debt nor absorb the risks associated with a weak or poorly managed business.
The LEDC can (in conjunction with the City of Linden) create programs under Chapter 380 of the Local Government Code for loaning and granting public money to promote state or local economic development and stimulate business and commercial activity within the municipality.
The VSIP grant program provides technical and financial assistance to property owners or business tenants seeking to improve their exterior signage, lighting, or overall commercial building visibility. VSIP can provide a matching grant of up to $5,000 with 20% participant match for the funding of well-designed improvements, including approved signage, which will coordinate all the important features of the storefront into a more attractive image while creating, if necessary, an accessible entrance for the public.
The CIP program provides financial assistance to business owners for equipment purchases that will increase sales and/or create jobs. The purpose of the CIP program is intended for equipment related directly to the business enterprise, such as kitchen equipment or CNC machinery or other such industry-specific, special-purpose equipment. The CIP program is not designed for purchase or installation of generic office equipment or supplies or equipment that represent facility-related equipment that is suffering from deferred maintenance, such as HVAC, plumbing, or electrical equipment.
Linden, Texas is a designated Qualified Opportunity Zone. Corporations and partnerships looking to make capital investments here may be eligible for self-certification as Qualified Opportunity Funds in order to provide tax benefits to investors.