The SEARP&DC economic development department works toward the total utilization and diversification of the region’s development and manufacturing potentials. This is accomplished through accurate assessment of present industrial capabilities and future population projections, and planning to obtain and access various Federal and State programs.
The ED department provides vital development assistance through various grant and loan programs, which assist businesses and industries and create permanent jobs for the region.
Programs such as EDA, CDBG, USDA/Rural Development and others have provided local access to economic development grants and loans assisting start-up and expansions of businesses as well as the development of infrastructure and industrial parks throughout the region. Assistance has also aided in the development of data bases necessary to attract new industries to the region. The ED department also provides technical assistance to regional member governments and businesses on a continuous basis.
SEARP&DC offers a range of services to Southeast Alabama’s business and industrial community. The services include Business Development Financing assistance and Industrial Infrastructure Development.
Fixed lower rate financing is directly available through SEARP&DC. Our Revolving Loan Fund (RLF), Intermediary Relending (IRP) and Microloan programs can provide needed capital for business expansion and growth. Land, buildings, equipment, inventory and permanent working capital are among the activities eligible for financial assistance from SEARP&DC. Our programs are designed to compliment, not replace, private capital from banks and other lending institutions. By taking a subordinate position, SEARP&DC can spread the risk of your project among several capital sources, making it more attractive for private sector financing. We want to be your partners in creating and retaining permanent jobs, while strengthening Southeast Alabama’s economy.
Loan Packaging and Business Development
Often business expansion projects utilize both private and public sources of capital. SEARP&DC can assist your business do the same thing. Financial analysis will be completed to determine the feasibility of your project. SEARP&DC can provide assistance and direct you to other service providers who can help you complete your business plan and present it to local lending institutions, many of which have already participated with SEARP&DC on past development projects. Working with you, we will identify the appropriate private and public funding resources for your project.
We can prepare your application for investment capital and guide it through the maze of State and Federal agencies. With the utilization of our business financing resources and technical assistance, we can measurably strengthen your business development financing package.
Our Loan and Grant Program Assistance Services Links
- Revolving Loan Fund(RLF)
- Intermediary Relending Program(IRP)
- MicroLoan Program
- Small Business Toolkit
- Brochures and Applications
State and Federal Assistance Programs Links
- State of Alabama Economic Development Infrastructure Program
- State of Alabama CDBG Economic Development Loan Program
- State of Alabama Section 108 Loan Guarantee Program
- State of Alabama Industrial Development Authority Site Grant Program
- State of Alabama Industrial Access Road & Bridge Program
- State of Alabama Enterprise Zone Program
- EDA Title IX Public Works Program
- ED Float Loan
- USDA/Rural Development Program
If your project is located (or will be locating) in one of the following counties in Southeast Alabama: