Business Loans

Business Loans

The AMF Loan Program

The Atlanta Micro Fund provides funding to borrowers primarily through the AMF small business loan program. First time borrowers are eligible to apply for a loan up to $10,000 (a repeat borrower up to $15,000).

Loans may be used for the following:

  • Equipment and/or Machinery
  • Inventory
  • Marketing
  • Raw Materials and/or supplies
  • Vehicles
  • Working capital (soft costs)

Service Areas

The Atlanta Micro Fund serves 10 counties in the Greater metro Atlanta area. The counties that the we serve are listed below:

  • Cherokee
  • Clayton
  • Cobb
  • Dekalb
  • Douglas
  • Fulton
  • Gwinnett
  • Henry
  • Newton
  • Rockdale

 

Eligibility Requirements

Our loans can help you with the operations and startup of your business. We have six(6) eligibility requirements that every applicant must meet before they can be consider for an AMF Business Loan.  If you meet these criteria you’re eligible!

  1. Must live or operate a business or planning to launch a business in AMF’s service areas.
  2. Must be a for-profit entity (nonprofit child care providers or centers can apply as well).
  3. The business has annual revenues under $250,000 (if it is an existing business).
  4. Ineligible industries include: Alcohol, Firearms, Gaming Pornography, Real Estate Purchases, Development and Rehab and Non-profits. (unless it provides child care services)
  5. Must be at least 18 years of age or older.
  6. Must have an annual household income that is less than or equal to $100,000.

 

Loan Terms and Interest

We offer flexible loan terms and interest rates to meet even the smallest budget needs.

The Terms

The terms range from 1 month up to 36 months and will depend largely on the size of the loan and the nature in which a business generates revenues and/or expenses.

The Interest Rates

The interest rates range from 9.0% to 12.50% and will depend on the size of the loan and not borrower’s personal credit score.

 

Credit and Collateral

At the AMF, you are more than just a credit score; our loan approval process takes into consideration your ability to repay the loan requested and how you have managed personal credit previously.

An Atlanta Micro Fund Loan applicant must have good character and a strong commitment to their business idea. Personal credit reports are retrieved to determine if there is a derogatory credit that would impair the borrower from repaying the AMF loan.  If an applicant is challenged to repay current debts, the Atlanta Micro Fund staff will then network the applicant into a credit counseling and/or debt management program.

The borrower will be required to secure the loan to the fullest extent possible. Examples of collateral include:

  • Business receivables, equipment, inventory and supplies
  • Personal effects
  • Automobiles
  • Co-signers or guarantors may also be used to secure loans but they are not considered collateral.