The New Markets Tax Credit (NMTC) is the federal program that attracts capital to low income communities by providing private investors with a federal tax credit for investments made to businesses or economic development projects located in some of the most distressed communities in the nation. Granbury has some eligible NMTC areas. Find more Information here.
Foreign Trade Zones provide that company goods can be unloaded, manufactured, assembled, tested, sampled, processed, repackaged, and re-exported without the intervention of US Customs authorities. The City of Granbury is amenable to establishing an FTZ program.
The USDA Business and Industry Loan Program guarantees loans made by eligible local lenders to businesses to benefit rural areas under 50,000 in population. Loans are made for improving, developing, or financing business and industry, creating jobs, and improving the economic and environmental climate in rural communities. This loan can be for fixed assets, working capital, and certain types of debt financing. Generally the maximum amount of a loan approvable at the State level is $5,000,000 and up to $15,000,000 at the National Office. The Secretary can approve up to $25,000,000. Interest rates are negotiated between the lender and the borrower and may be fixed or variable. The term may be up to seven years for working capital; useful life of equipment not to exceed fifteen years; and up to thirty years on real estate. Collateral will be considered along with the company history, management, repayment ability, equity, etc. A minimum of ten percent tangible balance sheet equity for existing businesses and twenty percent for new businesses is required.