The Pharr Cares Loan Program is Now Open
In order to infuse local businesses with the cash they need to begin economic recovery in the wake of the COVID-19 pandemic, the Pharr EDC Board of Directors has approved the Pharr CARES program.
Nicknamed Pharr CARES (Coronavirus Aid, Relief, and Economic Support), this program provides forgivable loans between $2,500 and $5,000 for local businesses suffering from the economic impact of the COVID-19 pandemic.
As Texas reopens its economy, these businesses face the uncertainty of how to rebound and thrive once again. Pharr CARES provides the support they need to move forward:
- All loans for working capital purposes in order to help businesses immediately begin recovering.
- Loans may be used for critical business costs such as personnel expenses, rent or commercial mortgage payments, utilities, and critical business equipment or supplies.
- Loans are available to Pharr businesses impacted by the pandemic.
Eligibility & Requirements
In order to qualify for funding under this program, the business must meet all of the following criteria: