The Chapman Loan Program began as a grant from the federal government to create a revolving loan fund in East Texas. This grant was made possible by the hard work of then congressman, Jim Chapman. The CLP is designed to provide long-term financing to eligible businesses. Loan proceeds can be used for fixed assets, new construction, renovations, leased property, equipment, inventory, and working capital. CLP funds can even be used in some instances to provide equity injections.
Borrowers will benefit from a low down payment, and long terms that are available through the program. Also, the wide variety of uses will allow borrowers a great deal of flexibility that may not be available through other sources.
The CLP Program involves a direct loan from the ETRDC to borrowers. The borrowers injection can be as low as 10%.
Any existing or startup business within the counties of Anderson, Camp, Cherokee, Gregg, Harrison, Henderson, Marrion, Panola, Rusk, Rains, Smith, Upshur, Van Zandt, and Wood.
The ETRDC is limited to a maximum loan amount of 90% of the project. Loans can range in size from $30,000 to $250,000.
Applying is easy. Simply download the application forms, and return the completed forms along with any attachments to the ETRDC offices.
You can download our ETRDC Loan Application forms as an Adobe PDF file. You will need to download the Adobe Acrobat Reader if you do not already have it installed.