InvestAtlanta Breaks Out Small Biz Loan Program
InvestAtlanta is adding another incentive to its arsenal of economic development tricks. And this time, it's focused on midsized companies in the poorest districts within the city. We spoke with InvestAtlanta's Dale Royal (here) and Stephen McRae about the firm's new $8M fund that will offer up to $3M loans to small and midsized companies, especially those in manufacturing and professional services. “It's easier to get loans for real estate transactions, and harder to get money for your working capital. That's where this is very effective,” Dale says. “It serves a niche that we haven't been able to serve before.” The fund is operated through the federal New Markets Tax Credit program, and specifies that the loans should help fund recruitment, staff training, equipment purchasing and acquiring/renovating properties.