Dallas-based Texas Capital Bank has collaborated with nonprofit lender BCL of Texas to provide $2 million in lending capital to support BCL’s consumer and commercial lending programs. Funds will support the Community Loan Center, a payday loan alternative program, as well as BCL’s Growth Fund that provides growth loans to small business owners in all corners of the state.
“We’ve worked with BCL of Texas for many years,” stated Robert Franco, Texas Capital Bank loan officer, in a press release. “By supporting their programs with lending capital, we are working together to help build a strong entrepreneurial system across the state.”
BCL’s Growth Fund serves small business owners in diverse sectors across Texas, with a focus on underserved communities.
“The fuel to our mission of building strong communities across Texas is lending capital,” Rosa Ríos Valdez, Dallas-based BCL of Texas’ CEO, stated in the release. “We are very grateful that Texas Capital Bank has stepped up with funding to help us serve our community’s greatest needs.”
Loan funds also will support BCL’s Community Loan Center. The CLC program is a response to the payday lending crisis Texas communities are facing, with auto title and payday loans taking advantage of people in need by charging interest rates as high as 400 percent. New lending funds will support the employer-based Austin Community Loan Center to provide affordable short-term loans up to $1,000 repayable over the course of 12 months with no collateral required.
Established in 1990 as a statewide not-for-profit Certified Development Corporation, BCL of Texas successfully promotes business and community development and provides business capital and commercial real estate loans throughout Texas.
Texas Capital Bank, N.A. is a commercial bank that delivers personalized financial services to businesses and entrepreneurs.
PHOTO: BCL of Texas CEO Rosa Ríos Valdez with Senior Vice President Robert Franco of Texas Capital Bank