Coast Gateway Regional Economic Development Alliance

Business Assistance

Starting or expanding a business isn't just about finding the right location, or the right tax incentives to assist you in your launch. Businesses and industries looking for assistance can find help through several CGEDA-affiliated lenders, as well as from the programs listed below:


Industrial Revenue Bonds:

  • Administered by local economic development organizations
  • Available for qualifying new and expanding companies
  • Can be used for land, building, and equipment purchases
  • Have lower interest rates and offer tax benefits
  • Long-term, low interest financing, federally tax-exempt or taxable, for fixed assets and soft costs

USDA B&I Loan:

  • Guarantee loans by eligible local lenders
  • Any legal entity may borrow and there is no size restriction
  • Limited to a maximum of $10 million/borrower

Tax Increment Financing:

  • A contiguous area created for capital improvements
  • Bonds repaid from revenue generated by the project

Special Improvement District Bonds:

  • Revenue bonds issued to finance improvements secured by assessments against the developer’s property
  • Bonds can be used to finance certain improvements within those districts, such as land purchases, streets, water systems, sewers, and sidewalks, and office and industrial buildings

HUD 108 Loan:

  • Long-term, federal, low-interest financing
  • Assists in the acquisition of real property, rehabilitation of publicly owned real property, relocation, clearance and site improvements
  • Eligible activities include manufacturing, major warehousing/ distribution and other activities that have a significant economic impact
  • Terms: 10-20 years

CDBG Float Loans:

  • Short-term, federal, low-interest loans ranging from $1,000,000 to $10,000,000
  • Terms are up to 2 years for fixed assets
  • Eligible activities include manufacturing and distribution.

Airport Revenue Bonds:

  • Tax-exempt financing of certain aviation-related improvements to airports
  • Issued by the Airport Authority

AAAE Airport Capital Loan Program:

  • Tax-exempt loans for eligible airports to finance improvements and equipment
  • Minimum loan size is $1,000,000
  • Weekly variable bond rate for up to 30 years
  • Not to exceed 120 percent of the estimated useful life of the project

SBA 504:

  • Fixed-rate, long-term financing below conventional market rates for real estate acquisition, construction, expansion, renovation and equipment
  • 50 percent bank loan, up to 40 percent SBA and 10- to 20-percent cash or equity from the company
  • Terms are from 10 to 15 years from bank and 15 to 20 years from the SBA portion
  • Limited to $750,000 participation by SBA and based on job creation of one job per $35,000 of SBA funding


  • Long-term financing for fixed assets, inventory and working capital by guarantee or direct loan
  • 10 years for equipment, 25 years on real estate, and 7 years on inventory and capital
  • Limited to 75 percent on maximum loan amount of $1,500,000

USDA Rural Utility Service – Zero Interest Loans:

  • Federal, low interest loans for project feasibility studies, start-up costs, incubator projects and other reasonable expenses
  • Loans range from $10,000 to $400,000
  • Loan requires a letter of credit from the borrowing company
  • Terms are up to 10 years
  • Selection of recipients is based on job creation, unemployment rates and other factors.

Linked Deposit Low Interest Program:

  • Low-interest, state financing program
  • 2 percent lower rate than conventional rates
  • Use for fixed assets, repairs, renovations, utilities, wages and inventory
  • Term of decreased rate is two years
  • Based on job creation of $10,000 to $15,000 per job

SARPC Revolving Loan Fund (Escambia County only):

  • Gap financing for healthy small businesses and industries
  • Loan amounts $10,000 - $125,000, limited to 33 percent of project and $10,000 per job
  • Funds can be used for purchase and development of land and facilities, construction of new buildings or renovation of existing buildings, purchasing equipment, and working capital needs
  • No more than 30 percent of a loan may be for working capital

Rural Business Enterprise Grants and Loans:

  • Federal, low-interest loan or grant up to $100,000
  • For small and emerging private businesses with less than 50 employees and under $1,000,000 in projected gross revenues


Trustmark Bank Building · 60 Hines Street, Suite 200 · Monroeville, AL 36460
251-248-2143 · USA: 800-915-6576 ·

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