Industrial Revenue Bonds may be secured through the local Industrial Development Boards and the Marshall County Economic Development Council will assist as needed in securing the bonds. IRBs provide financial assistance to new and expanding industries by providing funding for land, buildings, and equipment. IRBs may be exempt from property, sales and use tax and have an interest rate below conventional rates (for tax-exempt bonds).

The revolving loan funds program provides gap financing for start-up and existing businesses creating permanent jobs. Funds received through the program can be used to purchase land, buildings, and equipment, as well as for renovations and working capital.

The SBA504 provides long-term financing with lower interest rates and some fixed rates for new and expanding businesses. The loan program is used for the purchase of land, buildings, machinery, and equipment.

The SBA 7a Loan Program provides financial assistance for businesses unable to obtain long-term financing from conventional sources.

Funds from the program can be used for:

• Real Estate Acquisition
• Building Construction
• Renovation
• Expansion
• Purchase of Machinery and Equipment
• Purchase of Inventory
• Working Capital

Local governments may apply for state economic development grants to be used to provide public infrastructure for new and expanding industries.

The Industrial Energy Services Program provides assistance to industries, including low interest financing for qualifying improvements.

Program services include:

• Power Quality Analysis
• Power Factor Recommendations
• Load Management Studies
• Energy Efficiency Recommendations
• Electrotechnologies
• Special Metering – HVAC
• Wiring and Lighting

The Alabama Economic Development Loan Fund can be used by new and expanding industries to purchase land, buildings, machinery, and equipment. Loans received from the program are generally used for gap financing, and can be used as such for up to the $400,000 limit.

The Wallace Plan for Linked Deposits is a public/private partnership that provides financial assistance for small businesses and farmers.

The loan program has lower interest rates and provides funding for:

• Land, Buildings, and Equipment
• Repairs and Renovations
• Rent, Utilities, Insurance, and Taxes
• Legal and Accounting Fees
• Wages and Inventory

The RDA Business and Industry Program provides financing for new and expanding businesses in towns with populations of 50,000 or less.

Funds from the program can be used for:

• Purchase of Land, Buildings, and Equipment
• Working Capital
• Refinancing Debts (In Certain Cases)

Site preparation grants are provided to county and local municipalities to help attract new industries and assist existing industries.

The grants are used for:

• Land and Labor Surveys
• Grading
• Draining
• Providing Access to Qualifying Sites

Local governments may apply for state economic development grants to be used to provide public infrastructure for new and expanding industries.

The ARC provides supplemental funding for other federal or state-administered federal funds.

Funds from the grants are used for:

• Access Roads
• Water and Sewer System Installation
• Rail Spurs
• Dock Facilities

The Tennessee Valley Authority (TVA) has several programs that provide assistance to new and expanding businesses located in the Tennessee Valley. Visit the TVA Economic Development website for more information.

Programs include:

• The TVA Growth Credit Program
• Economy Surplus Power (ESP)
• The Economic Development Loan Fund
• The Valley Investment Initiative (VII)