Areas Served: Limestone, Jackson, Marshall, Dekalb
The Top of Alabama Regional Council of Governments offers a revolving loan fund for Limestone, Jackson, Marshall and Dekalb counties to finance business expansion and start-up projects of regional private for-profit firms.
Loan limits are 50% of the total project cost or $125,000, whichever is less.
One full-time position must be created for every $20,000 in borrowed funds for manufacturing and industrial businesses and $7,500 for commercial and retail businesses.
Interest rates are at or below prime.
Eligible uses for the fund are: – Land acquisition, preparation and associated expenses – Building acquisition – Machinery and equipment purchases (new or used) and related expenses – Working Capital (major expansions only)
Contact InformationAddress: 5075 Research Dr NW
City: Huntsville
State: Alabama
Website:
http://alarc.org/development/
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