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Section 108 Microloan Program

  1. Entrepreneurship
  2. Funding Opportunities

City Hall

144 Tichenor Ave, Suite 2

  1. Email: [email protected]
  2. Phone: (334) 501-7270
  3. Hours:  M-F: 8AM-5PM

Andrew S. Zutter

ECO DEV FINACIAL MGR

  1. Phone: (334) 501-7273
  2. Email: [email protected]

The purpose of the CDBG Section 108 Microloan program is to provide small, short-term business loans for active small businesses and startups. Loans may be used for small real estate purchases, inventory, working capital, supplies, furniture, fixtures, machinery and equipment.

Microloan Details

  • Amount: up to $35,000
  • Term: up to 6 years
  • Rate: determined during application process
  • Jobs: entrepreneurs are to make jobs available principally for low- and moderate-income citizens