July 07--RAYMONDVILLE -- A business has applied to take part in a new loan program that would help fund a restaurant project that would create 10 jobs, Raymondville officials said.
The business plans a $200,000 project to launch Wing Champs, a sports-themed restaurant and bar that would open at 100 N. Expressway 77, said Catalina Ozuna, executive director of the Raymondville Economic Development Corporation.
The restaurant would open 10 jobs to pay $10 an hour, Ozuna said.
She said McAllen-based Reyna and Associates, a city-contracted consulting firm, is reviewing the application for a loan that is part of a program aimed at helping small businesses create jobs here.
"We run a credit score check," Ozuna said.
The U.S. Department of Agriculture provided $267,000 while the Raymondville Economic Development Corporation added $153,000 to create the revolving loan fund, City Manager Eleazar Garcia said.
Ozuna said the program will offer loans of as much as $100,000 with 10-year terms and interest rates as low as 3 percent.
(c)2014 Valley Morning Star (Harlingen, Texas)
Visit Valley Morning Star (Harlingen, Texas) at www.valleymorningstar.com
Distributed by MCT Information Services