Industry Development Loan Program

Program Objective

The Texas Industry Development (TID) Loan Program provides capital to Texas communities at favorable market rates. The main objective of TID is to support projects that will stimulate the creation of jobs and corporate expansion and relocation. TID loans can be used for a variety of purposes, including the purchase of land, buildings, construction, machinery and equipment. TID financing is available for loans above $5,000,000. TID loans are generally requested by a community's economic development corporation, or EDC.

Terms

TID Program loans are low cost, long term financing opportunities to cover costs of economic development projects. The term of the loan cannot extend beyond the useful life of the assets, or bond maturity in 2025.

Source of Funds

The TID program operates within a non-profit entity incorporated under the Development Corporation Act of 1979 (Vernon's Texas Civil Statutes Article 5190.6), Texas Small Business Industrial Development Corporation (TSBIDC). The 67th Legislature in 1981 authorized TSBIDC to issue bonds for economic development projects. The Office of the Governor Division of Economic Development and Tourism administers the TID program. TID loan obligations do not constitute any liability on the part of the State.

Starting in 1983, TSBIDC issued special limited revenue obligations supporting job creation and capital investment for businesses and communities in Texas. Supported by a bond issuance on July 15, 1986, TID funds are directed to communities for economic development. Debt service is provided by project revenues.

TID Loan Program Application [683KB MSWord]

Contact Information

For additional information on the Texas Industry Development Loan Program, please contact us at (512) 936-0100.

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