Family Business Loan Program
The Family Business Loan Program is a public-private partnership between the City of Austin, HUD, and participating private lenders to offer low-interest loans to qualified small businesses that are expanding and creating jobs. Our mission is to enable existing local businesses to expand and create jobs, revitalize communities, increase the tax base of the City of Austin, and enhance the overall quality of life for Austin residents.
For more information, call 512-978-2502 to set an appointment and discuss your project with a Loan Program Advisor.
Why borrow through the Family Business Loan Program?
- Low Interest Rates: Significantly below regular market interest rates for a variety of business expansion projects
- Repayment Terms: Flexible repayment terms to meeting project-specific needs and financing to fund a wide range of eligible activities
- Low Equity Requirement: Only requires a 10% equity injection from the borrower, eliminating a common barrier to conventional financing
Who is eligible?
- A private for-profit business, legally organized and a going concern for at least 2 years
- Meet the size standards of the Small Business Administration (SBA)
- Able to demonstrate sufficient profitability to meet repayment requirements
- Willing to locate project in the Austin area as represented by Council 10-1 plan
- Commit to create no less than one job (FTE) for every $35,000 borrowed
Additional Housing and Urban Development (HUD) and Small Business Administration (SBA) guidelines for eligibility and underwriting criteria may apply, all project must meet HUD National Objective/Public Benefit Standards.
What kinds of projects are eligible?
- Acquisition of commercial and industrial land and buildings
- Renovation and new construction of commercial and industrial buildings
- Acquisition and installation of machinery and equipment
- Refinancing of existing debt to an independent institutional lender (as part of a new project creating new job opportunities)
- Working capital financing (only considered in conjunction with the total project and will not be financed independently)
** Loan funds cannot be used to reimburse costs incurred prior to completion of the HUD Environmental Review with the exception of project planning costs.
How to apply?
The Economic Development Department’s Cultural Arts Funding Program supports cultural arts programs for the Austin community by contracting with arts organizations for specific services.
The City of Austin is committed to building a collection of high-quality public art for the enjoyment and enrichment of citizens and visitors. This policy outlines the process through which artwork proposals are reviewed and accepted or rejected by the City of Austin. Download the City of Austin Artwork Donation & Loan Policy (PDF).
To determine eligibility for an economic development incentive, please complete an Inquiry Form.
Music on Hold
Music on Hold
Music on Hold is one of the City's fun and unique ways of showcasing Austin’s great music—usually in sixty seconds or less. Anytime someone calls into the City telephone system and placed on hold, they will be listening to a well-curated and licensed playlist of Austin music.
If interested in having a song featured on Music on Hold, contact Greg Gonzalez for details.
The City of Austin is incredibly proud of our local music culture, and every Austin City Council meeting includes live Music Proclamation Day performances during the lunch hour, which is broadcasted live on ATXN.tv.
Business training, educational events, and coaching to empower entrepreneurs. View all small business resources.