Areas Served: Dekalb County
The DeKalb Enterprise Business Corporation RLF provides intermediate to long-term financing for DeKalb County, Georgia businesses that sell goods or services and can show adequate financial information.
Eligibility Requirements – Small businesses, as defined by the U.S. Small Business Administration – For profit corporations, partnerships, sole proprietorships – Businesses operating in specific areas – Borrower or majority of corporation shareholders must be U.S. citizen{s} or have Permanent Resident status -For every $25,000 of loan proceeds, one job must be created or retained for low to moderate income individuals, OR business must provide substantial public or area benefit.
– Priority consideration is given to borrowers located in, moving to or expanding within the Revitalization Corridors of Candler Road, Memorial Drive, and Buford Highway in DeKalb County.
Eligible Uses – Machinery and equipment purchases – Real estate acquisition, construction, renovation or rehabilitation – Leasehold (tenant) improvements – Purchase of existing business – Working capital for purchase of inventory only (limited to 50 percent of total loan) – Direct expenses, including architectural design, engineering, environmental testing, legal fees and financial/technical assistance.
Loan Amounts Minimum: $10,000 Maximum: $50,000* *At least 50 percent of project cost must be funded privately and the RLF portion may not exceed $50,000. Financing Provisions – Loan terms: Negotiable, with a maximum term of 10 years depending upon use of proceeds.
– Interest Rates: Negotiable, as determined by project needs, with a minimum rate of 5 percent and a maximum rate that is below market.
Contact InformationDeKalb Enterprise Business Corporation
Address: 250 E. Ponce de Leon Ave., Suite 415
City: Decatur
State: Georgia
Website:
http://www.debco.org/revolving.php
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