Areas Served: City of Roswell
For small businesses in Roswell, Georgia that need a loan to purchase land, building, renovations, leasehold improvements, machinery & equipment or working capital; Roswell Economic Development partners with the Economic Development Corporation of Fulton County (EDCFC).
They have a great program, the Business Improvement Loan Program (BILP), which allows businesses to borrow between $10,000 and $50,000 for a term of between 3 and 7 years at a very low rate.
¢ Business and personal collateral will be required
¢ 10% borrower contribution will be required
¢ All businesses are eligible, except normal SBA exclusions
¢ Existing businesses are preferred
¢ Start-ups require a detailed business plan, reviewed and approved by the SBDC if possible
¢ Job creation required: One job for every $35,000 borrowed
¢ Loan interest rate is ½ Prime + 2.625%
Contact InformationRoswell Economic Development
Address: 38 Hill Street
City: Roswell
State: Georgia
Website:
http://www.roswellgov.com/documentcenter/view/1475
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