Eastside Revolving Loan Fund - San Antonio for Growth on the Eastside, Inc. (SAGE) will use $800,000 in CED funds to establish the Eastside Revolving Loan Fund (ERLF), to expand small businesses and create jobs in the Eastside of San Antonio, Texas. The fund will provide affordable capital to locally owned businesses, many of which struggle to access capital and resources necessary for growth and sustainability. CED funds will be used to issue loans and provide capacity building support to four local businesses to support a new business or expand their existing operations. The four businesses identified for the loans are Tank’s Pizza, D&N Kitchen, Con Huevos Tacos, and Bright & Morning Star Christian Learning Center, positioned to create a collective 30 new jobs. SAGE will partner with local organizations to provide wraparound services for employees hired at these businesses, including childcare referrals, transportation assistance, and emergency assistance for housing, utilities, or food. The project will create 30 new jobs, 23 of which will be filled by individuals with low income.
