Business Assistance

Industrial Revenue Bonds (IRBs)

• 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

Revolving Loan Funds

• State program
• Administered through local economic development organizations.
• Provides gap financing for qualifying new and expanding industries that are creating new permanent jobs
• Can be used for land, building, and equipment purchases, as well as working capital

Certified Capital Company Program (CAPCO)

• Open to qualifying businesses that are headquartered in Alabama or are moving their headquarters to the state
• Administered by the Alabama Department of Commerce and provides alternative funding to conventional bank financing

More information about this program can be found on the Alabama Department of Commerce Website.

HUBZone

The Small Business Administration's HUBZone Program has contracting assistance available.

Assistance includes:

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

USDA Rural Development

The USDA provides business assistance programs, including grants and loans for those companies looking to develop in rural areas. More information about these programs, including grant and loan information, can be found on the USDA Rural Development Alabama website.

Site and Infrastructure Assistance

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

• 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

Site Preparation Grants (Industrial Development Grants)

• Open to counties, municipalities, local industrial development boards or authorities, economic development councils or authorities, airport authorities, port authorities or public corporations or certain state agencies or departments
• Funds must be used only for: (1) preparation of a means of access to the site; (2) provision for adequate drainage of the site to prevent the accumulation of excess natural waters thereon; (3) boundary and topographical surveying, clearing and grubbing, and excavating; (4) the reasonable rehabilitation of buildings and other structures; and, (5) other work relative to site preparation deemed necessary or appropriate.

For more information, visit the Alabama Department of Commerce website.

Industrial Access Road and Bridge Program

• Funds are limited to construction, construction engineering and inspection costs.
• Funds are intended to provide adequate public access to new or expanding distribution, manufacturing and industrial firms.
• The new or expanding industry must be committed to new investment and the creation of new jobs.
• New access must be on public right of way for public use.
• Project Sponsor must maintain the completed facility unless the facility consists of turn lanes, crossovers, etc., that are located on state highways.
• Project Sponsor is responsible for all preliminary engineering, right-of-way acquisition and utility relocation costs.

For more information on this program, visit the Alabama DOT website.