Growing Our Economy

Supporting local businesses and economic diversification

TARCOG has partnered with Neighborhood Concepts, Incorporated to administer our Revolving Loan Fund through the North Alabama Revolving Loan Fund, LLC.

Click here to learn more about the fund and to apply.

The Loan Fund provides loans ranging from $5,000 to $250,000 to small businesses and non-profit organizations in north Alabama. Eligible uses include machinery & equipment; working capital; leasehold improvements; real estate acquisitions or rehab; business acquisitions, and the refinance of higher-interest business debt.

Funding Parameters	Eligible Activities	Purposes/Targeted Businesses
Funding Parameters: Small businesses with 100 or less employees, or non-profit organization	Eligible Activities: Commercial land and building acquisition	Purposes/Targeted Businesses: Start-ups
Funding Parameters: Loan amounts of $25,000 – $200,000* (*can potentially be paired with NCI loan funds for a higher loan amount)	Eligible Activities: Constructions, renovation, or repair of commercial building	Purposes/Targeted Businesses: Rurally located
Funding Parameters: 5 – 20 year loan terms	Eligible Activities: Machinery and equipment purchases	Purposes/Targeted Businesses: Women, minority, veteran, or LGBTQ+ owned
Funding Parameters: Interest rate depending on credit risk rating and current prime rates. Minimum: 5% Maximum: 10%	Eligible Activities: Working capital	Purposes/Targeted Businesses: Business acquisitions

Visit NCI’s website for more information, or contact John Thornton at jthornton@neighborhoodconcepts.org.

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256-830-0818
P.O. Box 1087
Huntsville, AL 35805

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