Texas Launches Simplified Process for Small Business Credit Initiative

Governor Abbott unveils updated financial institutions list to boost small business funding and job growth.

Governor Greg Abbott announced the latest list of approved financial institutions for the Texas Small Business Credit Initiative (TSBCI).
The initiative aims to support small business growth and job creation with up to $472 million in potential funding.
The TSBCI offers two loan programs: the Capital Access Program with loans up to $5 million, and the Loan Guarantee Program with loans up to $20 million.
Eligible small businesses must be for-profit, domiciled in Texas, and have at least 51% of employees in the state.
The program prioritizes traditionally marginalized businesses and those impacted by the COVID-19 pandemic.