ATLANTA – Invest Atlanta today announced the launch of the Atlanta Advantage Loan Fund, a revolving loan program for businesses located in low income neighborhoods in the City of Atlanta. The loan fund, enabled through the federal New Markets Tax Credit (NMTC) program, allows eligible businesses to receive loans between $1 million and $3 million for purchasing equipment, training staff, recruitment, acquiring and renovating property, and making leasehold improvements.

“The Atlanta Advantage Loan Fund aligns with our City’s goals to renew underserved neighborhoods so they can attract new investment and create jobs,” said Mayor Kasim Reed. “The Loan Fund is exactly the type of resource we need to drive renewal and job creation for these communities.”

Businesses such as manufacturers, distributors and service providers in low income neighborhoods throughout Atlanta may apply for financing, including senior and subordinate loans. Invest Atlanta’s partner in the fund, Advantage Capital Partners, will process applications and make recommendations on them.

“The Atlanta Advantage Loan Fund will be an important vehicle for stepping up investment in neighborhoods that can benefit greatly from new economic opportunities,” said Paul Woodworth, president of SunTrust Community Capital, which is also an investment partner for the fund. “We’re proud to partner with Invest Atlanta and join in their revitalization efforts.”

The loan fund is a unique use of NMTC financing and will address the need for loans below $5 million for small and medium-sized businesses in Atlanta. For more information, visit: http://www.investatlanta.com/wp-content/uploads/Atlanta-Advantage-Loan-Fund-Brochure.pdf.