A ribbon cutting ceremony was held on Tuesday, November 30 to celebrate the opening of the new center for business development featuring Council Finance, Inc. at Howard Payne University’s Newman Hall.
Council Finance’s primary financing tool is the US Small Business Administration’s 504 commercial mortgage program. The 504 loan combines conventional financing from a private lender with a fixed-rate loan from SBA for the purpose of financing land, commercial buildings, and long useful life equipment. Since the purpose of the program is to promote local economic development, the funded project must create or retain local jobs.
The office is provided in partnership with the Brownwood Economic Development Corporation, Howard Payne University and the West Central Texas Council of Governments. Daniel Hutson is staffing the new office located in Newman Hall at 809 Coggin Avenue and is available for inquiries about the new program at 325-518-4942. The office is also looking to expand to new programs in the near future to help the development of local businesses.
For more information, visit www.councilfinance.org.
