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Downtown Merchants Incentive Loan Program
Recognizing the economic value of a properly established retail mix, as well as the need for special funding options under certain circumstances, the Downtown Development Authority (DDA) offers the downtown merchants an incentive loan program based on certain criteria. The loan is a matching program based on investment capital raised, and is limited to $25,000 for any one business.

The program is equal-opportunity based, with criteria that addresses established local ventures requiring bridge and/or strategic growth funding. This criteria is reviewed and decided upon by members of the DDA's Economic Development Committee, with any appeals given final consideration by the board members of the DDA itself.

  • Must be an existing business, having been open in Norcross for at least 18 months
  • Must demonstrate past community involvement and establish why their business is a catalyst for downtown business vitality
  • Must present a written business plan showing how the funds will be used
  • Must present cash flow projections showing revenue and cost impact, and how the loan will be repaid
  • The loan is a matching program; therefore, the business owner must contribute additional funds or secure outside investor capital to be considered for the program
  • The maximum amount of the loan for any one business is $25,000

  1. Line of credit funds may be drawn down as needed, provided the investor matching threshold is met
  2. Interest at 80% of the published prime rate at the time of the loan
  3. 10 year amortization, with a balloon payment due in 35 months
  4. Monthly review of the business and marketing plan, the financial statements, and a budget to actual reconciliation of cash flows
  5. Business owner must personally guarantee the loan, and a security interest will be taken in the equipment