BEDC Receives Third Installment for Revolving Loan Fund Supporting Bastrop Businesses

At the November 18th meeting of the BEDC, the Board of Directors and staff received the third $20,000 installment for the Revolving Loan Fund (RLF) Program, made possible through a partnership with Roscoe Bank.

In 2021, Roscoe Bank generously committed $100,000 to the RLF Program, designed to support Bastrop businesses. The BEDC agreed to match Roscoe Bank’s $20,000 annual installments with $30,000, creating a robust $250,000 fund over five years. Roscoe Bank’s Market President Rick Womble presented the latest check, expressing pride in contributing to the economic success of Bastrop businesses.

The RLF Program provides businesses with direct, low-interest loans, supporting startups and expansion projects aimed at job creation, increased sales tax revenue, and private capital investment within the city. What makes the RLF particularly impactful is its sustainable structure—loan repayments, including principal and interest, are recycled back into the fund, making financing continuously available to other borrowers. This model is especially beneficial for small businesses and entrepreneurs who may struggle to secure traditional financing.

For more details on how the RLF Program can help your business, visit: Bastrop EDC Revolving Loan Fund Program.