Expanding Houston's Small Businesses
Houstonians are a truly amazing group. They understand hard work, discipline, and always have one foot planted firmly in the future.
That’s why I’m helping lead a new push to reinvest in Houston’s small businesses. Houston Business Development Inc. hopes to bring in as much as $125 million for small business development loans in the next three years.
But I think we can do more. My goal is to make the city budget of 4 billion dollars as accessible as possible to small business owners. My administration has already made the effort to streamline the bidding process so local businesses are competitive, but it's also important that small business men and women have the training and city staff support to win those contracts. This program will continue that process.
If you’re excited about the future of Houston’s small businesses, please join my campaign for jobs and a stronger economy.
-Annise
PS- For more info on HBDi, or their loan programs, visit www.hbdinc.org.
Houston's small-business lending program to become community organization
Houston Business Journal
Houston City Council approved an agreement that will turn Houston Business Development Inc. into a community-based development organization.
The move could result in $125 million of economic development funding for the city’s small businesses over a three-year period if the organization is the recipient of the federal government’s New Markets Tax Credits program, the council said. It will also allow the organization to bring in alternative capital sources and public/private partnerships that were previously precluded, the council added.
Formed in 1986, the Houston Business Development is a non-bank community lending institution governed by a 13-member board of directors that includes business and community leaders appointed by the city council.
So far, the organization has loaned more than $29 million to small businesses in Houston and leveraged about $37 million from private sector lending institutions, resulting in nearly 2,000 jobs being created for low-moderate income citizens.
Houston Business Development is located in southeast Houston at 5330 Griggs Road, but plans to open two new offices around the city by the end of 2012, Hector Carreño, chairman of HBDi and CEO of carreñogroup Public Relations, said in a statement.
