Loans, Financing, & Tax Incentives
NewTown Loans
NewTown Loans is central Georgia's first and only Community Development Financial Institution (CDFI) aiming to serve residents of low-income areas in Macon-Bibb and our black entrepreneur community through education, coaching, and financial resources.
Macon-Bibb County Urban Development Authority Loan
The UDA operates a loan program that can be used for tenant build-out or improvements by a property owner. Terms are generally 10 to 15 years, with a 2% interest rate. The program is limited to 40% of project costs and $200,000 and requires the participation of a private lender.
Opportunity Zone
Several locally designated Opportunity Zones (OZ) are located downtown. Businesses located within an OZ are allowed a job tax credit of $3,500 per 2 net new full-time jobs (subject to other restrictions). This credit can be carried forward up to ten years and applies first to income tax liability, then to withholding.
Advice, Coaching, & Networking
Score
Middle Georgia boasts its own chapter of the national SCORE organization, where you can find mentors with many different specialties, all available for free to prospective and existing business owners. In addition to individual coaching, SCORE offers many free and low-cost educational opportunities for starting and growing your business.Â
Middle Georgia Regional Library
The Middle Georgia Regional Library System employees a full-time Business Reference Librarian who can help you learn how to start, sustain, or grow your business. Visit Washington Memorial Library to find resources that can answer your questions about start-up, financing, non-profits, and legal issues. The Business Reference Librarian can offer you items you can check out and even many digital resources that you can browse from home. The digital resources are available for you through GALILEO after you register for a library card and create an account at your local branch!Â
University of Georgia Small Business Development Center (SBDC)
SBDC provides tools, training, and resources to help small businesses grow and succeed. The Small Business Development Center, a Public Service and Outreach Extension of The University of Georgia, is funded in part by the U.S. Small Business Administration (SBA). The University of Georgia Small Business Development Center is nationally accredited by the Association of SBDCs.Â
Greater Macon Chamber of Commerce
The Greater Macon Chamber of Commerce seeks to unite all the public and private interests to support those activities that are broader than any single business or industry. The Greater Macon Chamber of Commerce is a working partnership of business and professional people who know the wisdom of coordinating their efforts under effective leadership for advancement and development of the community and the free enterprise system.