Loan Programs

Since inception, our loan programs have distributed over $7 million and leveraged over $78 million, and for every dollar loaned, we have leveraged roughly $11.

Revolving Loan Fund — General Funds

A revolving loan fund provides supplemental financing for expanding and new businesses located in Blount, Chilton, Jefferson, St. Clair, Shelby and Walker Counties whose projects will result in the creation of new permanent jobs.

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Revolving Loan Fund — Accounts Receivable

The Accounts Receivable lending program is for incubator tenants only of the Innovation Depot and the Bessemer Business Incubation System. This program provides quick, low-cost working capital loans to small business using their receivables as collateral over a 30-day term. The maximum loan amount is $25,000. The average rate today is 6.25%, but rates vary depending on the project.

Revolving Loan Fund — Microlending

The Microlending program provides small businesses with affordable loans of $35,000, or less for working capital or the acquisition of materials, supplies, furniture, fixtures, or equipment. Terms vary based on the project.

Microloan Guidelines

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