Micro Loan – Regional Planning Commission of Greater Birmingham

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Areas Served: Blount, Chilton, Jefferson, Shelby, St. Clair, or Walker County

The Regional Planning Commission of Greater Birmingham Microlending program provides Alabama small businesses in Blount, Chilton, Jefferson, Shelby, St. Clair, and Walker Counties 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.

Eligible Businesses

– Start-ups, newly-established, or growing small businesses

– Manufacturing

– Distribution

– Technology-Based

– Healthcare

Eligible Uses

– Working Capital

– Acquisition of:n

    n

  • Materials
  • n

  • Supplies
  • n

  • Furniture
  • n

  • Fixtures
  • n

  • Equipment
  • n

Loan Size & Terms

– Up to $35,000

– Maximum repayment term of six (6) years

– On loans more than $10,000, the rate can be up to the rate applicable to the five-year obligations of the United States Treasury + 5.75 percentage points

– On loans less than $10,000, the rate can be up to the rate applicable to the five-year obligations of the United States Treasury + 6.5 percentage points Fees

– $350 Processing Fee Loan Review Process

All loan decisions will be made by the Regional Planning Commission’s Loan Review Committee, which is made up of representatives from throughout the region.

Contact Information
The Regional Planning Commission of Greater Birmingham
Address: 1731 First Avenue North, Suite 200
City: Birmingham
State: Alabama

Website: http://rpcgb.org/economic-development/

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