Business Assistance Programs
The City utilizes several programs to provide financial assistance for business development.
Economic Development Loan Program provides gap financing to large development projects that are intended to expand or enhance existing businesses, create new job or wealth opportunities, and assist viable economic development projects. This assistance is typically provided as a low interest, long-term loan.
- City funding will not exceed 20% of the total project cost.
- Funds can be repaid as a low interest rate, long-term loan.
- Loan terms will vary based on the needs of the project.
- City will consider subordinated debt.
- Assistance may be based on location criteria.
- Project financial assistance requests are approved by the City Council.
Contact the Development Office for additional information (336)747-7474.