Invest Atlanta recently authorized the creation of the new Rise Atlanta Revolving Loan Fund (RARLF). The purpose of the RARLF is to provide a public benefit in the form of low-interest small business loans to small and local businesses engaged in trade, industry, and commerce located in Community Development Impact Areas (CDIA) of the city of Atlanta to recover from an economic shock or disaster.

Qualified applicants are eligible for direct loans between $10,000 and $50,000 over a period not to exceed seven years. Interest rates for the loan will not exceed 3 percent and the first payment may be deferred until March 1, 2021. Funds can be used for inventory, working capital, equipment, fixtures, furniture, and up to $30,000 of the loan can be used to retire high-interest rate business debt accounts

Small businesses are a vital part of Atlanta’s economy. Approximately 16,000 businesses operate in the city of Atlanta. Almost 95 percent of those businesses have less than 50 employees and/or $500K in revenue. An estimated 25 percent of businesses do not open again after a major disaster, according to the Institute for Business and Home Safety. Following a disaster, 90 percent of smaller companies fail within a year unless they can resume operations within five days.

The RARLF will help ensure the viability of small, minority and female-owned businesses located in Community Development Impact Areas (CDIA). CDIA areas of the City of Atlanta can include Auburn Ave, Donald L. Hollowell Parkway, Campbellton Rd, Kirkwood, Westend/Westview, East Atlanta, Metropolitan Avenue, Memorial Drive, Cascade Rd, Georgia Avenue, Pryor Road, Martin Luther King Jr. Drive, Lowery Blvd., Sylvan/Dill and surrounding areas.