New Fulton County program helps businesses grow
Recovery Loan Program 2.0 is available to Fulton businesses outside Atlanta
ATLANTA, Ga. (CBS46) - Fulton County has announced an expanded $3.9 million loan program available to small businesses outside the city of Atlanta. The program is designed for Fulton County businesses that have found it hard to recover from and grow their business during the COVID-19 pandemic. It prioritizes minority and female-owned businesses and industries most impacted by the pandemic, including the performing arts and hospitality.
Eligible businesses can receive loans of up to $100,000 and access advisory services provided by the county. To be eligible, applicants must have been in business for at least two years.
Chairman of the Fulton County Board of Commissioners Robb Pitts said, “these new changes to our loan fund will enable us to serve more small businesses and meet them where their needs are, so they can adapt and thrive in a post-pandemic economy.”
Previously, the loans were limited to covering declines in revenue, but the new program allows loanees to cover capital investments with the money as well. The program’s changes also include longer repayment schedules that make it easier for businesses to pay back their loans.
The Recovery Loan Program was first announced in March.
Copyright 2022 WGCL. All rights reserved.