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Funding – CDBG

Building Fulton County’s Economy One Business at a Time.

CDBG
Microenterprise Grant Program

The CDBG Microenterprise Grant Program is a grant program to assist small businesses.  

This grant was awarded to Fulton County and is being administered by the Fulton County Center for Regional Growth.  Small businesses can receive grants of up to $25,000 to assist with startup or expansion costs which create jobs.

Funding

Grant Calculation
The minimum grant for each business will be $5,000 and the maximum will be $25,000. The grant will be calculated as follows. Each business will receive a $5,000 grant plus $10,000 for each full time equivalent job created. In addition, for any business at least 51% of the jobs created shall be low mod jobs.
Use of Grant Funds
Grant Funds will be provided Financing of capital assets (such as real estate, buildings, machinery and equipment) and working capital.
Owner Contribution
Grant recipient will provide a minimum of 10% equity in the project.
Timing of Grant Funds
Grant funds will be release on a pre-agreed upon schedule, where CDBG funds will be disbursed on a pro rata basis with the other financing
Compliance During the Regulatory Term
A formal agreement between the business and the County will be executed. Where collateral is available, this agreement will be secured by a means of a mortgage on real estate or a lien in other hard assets. This agreement will constitute the means by which the County enforces compliance with program requirements. The program will include regular periodic monitoring of each business to ensure that it is making good faith efforts to achieve employment goals and other program objectives.
Building Fulton County’s Economy One Business at a Time.

How Can CRG
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