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Yoakum strives to assist with the financial needs of the business community. Local institutions offer a wide variety of financial assistance. In addition, several state and federal programs are in place to assist expanding and/or relocating businesses.
Yoakum Banking Institutions
- First Capital Bank, Yoakum
(361) 293-5221
Contact Person: Carolyn Brosch
- First State Bank, Yoakum
(361) 293-3572
Contact Person: Dennis Kutach
- Yoakum National Bank
(361) 293-5225
Contact Person: Louis F. Boening
Financial institutions will return contact within one (1) working day and a loan officer will be assigned for information guidance. Upon receipt of a loan application, financial institutions will give specific rates, terms, etc.
Texas Department of Agriculture
(512) 936-0223
- Texas Capital Fund Infrastructure Development Program
The Texas Capital Fund Infrastructure Development Program is an economic development tool designed to provide financial resources to non-entitlement communities. Funds from this program can be utilitized for public infrastructure needed to assist a business which commits to create and/or retain permanent jobs, primarily for low and moderate income persons. This program encourages new business developoment and expansions.
- Texas Capital Fund Real Estate Development Program
The Texas Capital Fund Real Estate Development Program is an economic development tool designed to provide financial resources to non-entitlement cities and counties. Funds must be used for real estate development to assist a business that commits to create and/or retain permanent jobs, primarily for low and moderate-income persons. The real estate and/or improvements must be owned by the community and leased to the business. This program encourages new business development and expansions.
SBA Loan Programs
- 504 Loan Program - Provides loans with low down payment, long term, fixed-rate permanent financing for land, buildings and equipment.
- 7(a) Loan Guarantee Program - Guarantees commercial lending institutions up to 80% for loans under $100,000 and up to 75% for loans over this amount. Loan proceeds may be used to finance working capital, fixed asset acquisition and leasehold improvements.
Program funds are available through local institutions and/or a certified development corporation.
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