EDC PROJECT
EDC Annual Report 2024 // 15
SCORE Cohort
The City and the Arlington EDC are partnering with SCORE to provide Arlington business owners the opportunity to participate in a series of tailored workshops to advance their company ’ s growth . The inaugural cohort of 20 businesses was selected in July 2024 and will graduate in December 2024 .
The program consists of six classes covering topics like developing a business plan , sales and marketing , utilizing social media , financials and more . SCORE , a nonprofit organization , is the nation ’ s largest network of volunteer , expert business mentors and is dedicated to helping small businesses plan , launch , manage and grow . SCORE is a resource partner with the U . S . Small Business Association ( SBA ), which administers a Congressional grant to provide funding to the organization .
EDC PROJECT
LiftFund 0 % Interest Loans
The Arlington EDC , in partnership with LiftFund , Texas ’ leading nonprofit small business microlender , launched its new Interest Buydown Program , offering zero-percent interest loans to local small businesses . The first LiftFund partnership with a municipality in north Texas , the program aims to support the city ’ s entrepreneurial ecosystem by providing loans to help foster growth , innovation , and job creation . The Arlington EDC contributed $ 300,000 towards this program and held a successful informational session for prospective businesses to ask questions about the application process .