Announcing the Atlanta Open for Business Fund
The Atlanta Recovery Loan Program is a $5.7 million program, offering low-cost business fund and loans to help small businesses grow ownership of tangible assets to help them build wealth and avoid displacement due to changing economic conditions. It is the first of four initiatives Invest Atlanta and UWGA will roll out as a part of the Atlanta Open for Business Fund.
Eligible businesses include existing businesses with less than 500 employees, partnerships or sole proprietorships and nonprofits with a focus on diverse-led or supporting diverse communities. Businesses in all commercial areas in the city of Atlanta, including those operating on City of Atlanta-owned property, are eligible.
The maximum direct loan amount is $25,000 – $100,000 at an interest rate not to exceed 3% repaid monthly over a term not to exceed seven years, providing businesses access to lower-cost, fixed-rate capital in a market where interest rates are rising.
The Atlanta Open for Business Fund is made possible through a $20 million donation from Wells Fargo, offering a mix of grants and loan programs with a focus on diverse-owned businesses.
To learn more about the Atlanta Recovery Loan Program and to apply, visit www.investatlanta.com/atlantarecovery.