ATLANTA, Ga. (CBS46) – Fulton County has announced an expanded $3.9 million loan program available to small businesses outside of the city of Atlanta. The program is designed for Fulton County businesses that have struggled to recover and grow their business during the COVID-19 pandemic. It prioritizes minority- and women-owned businesses and industries most affected 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 qualify, applicants must have been in business for at least two years.
Fulton County Board of Commissioners Chairman 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, loans were limited to covering a drop in income, but the new program allows borrowers to also cover capital investments with cash. The program changes also include longer repayment schedules that make it easier for businesses to repay their loans.
The Recovery Loan Program was first announced in March.
Copyright 2022 WGCL. All rights reserved.