Grants & Loans

Grants, loans, and other assistance programs are available through federal, state, and local government sources, as well as private providers, such as local foundations. Additional assistance is available to municipalities which can be used for site preparation, infrastructure projects, and project financing, all for the benefit of your company. For more information about available assistance programs, contact the C3 of Northwest Alabama Economic Development Alliance at 205-468-3213.

Click the tabs below to learn more about available grants & loans.

Industrial Revenue Bonds (IRBs)

These bonds are administered by local economic development organizations are available for qualifying new and expanding companies. The bonds can be used for land, building, and equipment purchases. These bonds offer lower interest rates and offer tax benefits.

Revolving Loan Funds

This state program is administered through local economic development organizations. It provides gap financing for qualifying new and expanding industries that are creating new permanent jobs. It can be used for land, building, and equipment purchases, as well as working capital. RLF’s are also available from both Regional Council of Governments that serve the area. Learn more at the Northwest Alabama Council of Governments and West Alabama Regional Commission websites.

Certified Capital Company Program (CAPCO)

This program is open to qualifying businesses that are headquartered in Alabama or are moving their headquarters to the state. It is administered by the Alabama Development Office (ADO) and provides alternative funding to conventional bank financing. More information about this program can be found on the ADO website.

HUBZone

Contracting assistance is available through the Small Business Administration's HUBZone Program. All three counties are designated as HUBZone areas.

Assistance includes:

  • Competitive and sole source contracting
  • 10% price evaluation preference in full and open contract competitions
  • Subcontracting opportunities

USDA Rural Development

The USDA provides business assistance programs, including grants and loans. Local USDA offices are located at 205 4th Avenue NE, Suite 103 in Cullman, AL and at 3831 Palisades Drive, Suite A in Tuscaloosa, AL. More information about these programs, including grant and loan information, can be found on the USDA Rural Development – Alabama website.

Assistance for Site and Infrastructure Assistance

Local municipalities are able and willing to apply for site preparation and infrastructure grants to assist new and expanding companies.

  • Industrial Development Grant Program (Site Preparation)
    • Used for land and labor surveys, site preparation, and road construction projects.
    • Based on amount of capital investment
  • Alabama Infrastructure Grant Program
    • Used to improve infrastructure on a site
  • Alabama Industrial Access Road and Bridge Program
    • Used to create industrial access to a site
    • Includes construction of roads and bridges
  • Grants from Alabama Department of Economic and Affairs