Running a successful business isn’t easy. As companies start and grow, they all face challenges, and the last several years have made those struggles even more daunting. To overcome these challenges and equip locally owned businesses with the necessary resources for success, the City and County of Montgomery, Alabama, in collaboration with Hope Enterprise Corporation, have initiated the Small Business Access to Capital Program. This program, funded through the State and Local Fiscal Recovery Fund (SLFRF) of the American Rescue Plan Act (ARPA), aims to enhance access to small business financing specifically tailored to alleviate financial burdens stemming from the pandemic.
Businesses that qualify can receive loans of up to $500,000 from HOPE to help with any of the following needs:
• Payroll and benefits
• Costs to retain employees
• Mortgage, rent, utilities
• Building Improvements
• Other operating costs