Economic Assistance for Atlanta Businesses Affected by COVID-19
To ensure the viability of city businesses and to help sustain employment, Invest Atlanta has established a Business Continuity Loan Fund (BCLF) with $1.5 million of funding from the City of Atlanta. The fund will offer small businesses zero-interest loans to address a lack of working capital and cash flows as a result of reduced consumer demand, the ability to fulfill product or service orders and other economic conditions.
APPLY NOW: https://www.investatlanta.com/business-continuity-loan-fund
What are the terms of the loan?
Loans are paid back monthly over a term not to exceed five (5) years at an interest rate of 0%
with a 6 to 12-month deferment before the first payment is due.
- Application follows SBA guidelines to include by not limited to:
- Business narrative
- Description of services and use
- Executed lease or mortgage statement
- Document COVID-19 impact on business
- Last year's business and personal tax returns
- Existing tax liens or funds owed to City of Atlanta
- Financial statement for last 3 months
- Articles of incorporation and secretary of state registration
- City of Atlanta business license
- Notarized Affidavit of Company Ownership
- Applications reviewed by Credit Review Committee bi-weekly.
- Funds to be available to approved applicants within days.
- Businesses can apply for the BCFL and SBA loans. No restrictions.
Who is a qualified applicant for the BCLF?
- The BCLF program is for businesses operating in the city limits for Atlanta. To be a qualified applicant for the BCLF, businesses must:
- Be an existing for-profit corporation, partnership, sole proprietorship or non-profit with for-profit activities in the city of Atlanta that contributes to trade.
- Be current on all financial obligations related to the lease or mortgage agreement for the business.
- Have 50 or fewer full-time employees, i.e., employees working at least 30 hours per week or 130 hours per month.
- Have been in operation for 1 year
- Have a current City of Atlanta business license.
- Be current on all city of Atlanta taxes and fees.