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Borderplex Community Capital pitches revolving loan and interest-rate buy-down to Socorro council
Summary
Borderplex Community Capital proposed a revolving loan fund (example $500,000) and an interest-rate buydown pilot (example $150,000) to help local small businesses access capital and technical assistance. Council members encouraged outreach and requested follow-up details.
Borderplex Community Capital presented two proposals to the Socorro City Council designed to help local small businesses access capital and technical assistance.
Hector Espino, technical assistance coordinator for Borderplex, described a proposed revolving loan fund in which the city would allocate capital (he used $500,000 as an illustrative example) and Borderplex…
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