The State of Alabama has numerous methods of financial assistance to new and expanding industries. New projects requiring capital in excess of $5 million can secure financing in several different ways. The local industrial development board can act as a channel for the sale of tax-free or taxable industrial revenue bonds. This method has proven to be popular with most companies in past years. Loaded rates generally run two to three percent (2% - 3%) below prime.

Alabama Revolving Loan Fund
The State Revolving Loan Fund provides reduced interest, fixed rate financing for capital asset and working capital needs. The Wallace Link Deposit Fund gives Alabama domiciled companies the opportunity to have commercial bank financing interest rates reduced over a two-year period.

Conventional bank financing, coupled with SBA, EDA, FmHA, or Alabama Revolving Fund assistance, can be obtained through one or more of the eight financial institutions in the area.

State and Local Incentives
The State of Alabama and the local community offer a variety of incentives designed to meet the needs of new and expanding industries that can assist the area in its economic expansion. The type and amount of incentives are based upon need of the company and the potential impact their presence will have on the area.

Alabama Industrial Development Grant Program
Alabama's Industrial Development grant program is available to companies constructing new facilities by paying a part, or all, of the cost of preparing a site for construction. These companies must be Code Classification 20 through 39, Division F, major group 50, and major group 51, industrial group numbers 737 and industry numbers 8731, 8733, and 8734. The grant is for grading of earth and drainage of natural water.  The size of the grant depends on the total amount of expense for the acquisition of the land, construction, and equipment. The maximum grant is $375,000.

Road infrastructure improvement grants can be made, when appropriate, along with utility and general infrastructure assistance. Details on these and other state programs can be obtained from the Alabama Development Office or the Shoals Economic Development Authority.

TVA Economic Development Loan Fund
A multimillion-dollar revolving loan program, the EDLF is designed to stimulate investment and job creation in the TVA region. Loans must be co-sponsored by a power distributor, local government, or economic development agency and are made available to new and expanding industrial companies for fixed assets such as buildings, machinery, and equipment.