Micro-Enterprise Loan Program

A forgivable loan from the City of Mobile

Overview of Micro-Enterprise Loan Program

Are you a construction company, homebuilder, or construction support company?

Have you been impacted by the COVID -19 crisis?

If you meet the requirements you may be eligible for a forgivable loan from the City of Mobile.

The Micro loan can help with

    • Payment for 2021 Business Licenses Renewal
    • Payment for Renewal of 2021 or Obtaining of Home Builders License.
    • Payment for Renewal of 2021 or Obtaining of Bonding and/or Insurance.

Guidelines for the Micro-Loan Program

Each applicant (Business Owner) will have to meet HUD income guidelines and once approved will have a $2,500.00 maximum loan limit. After the loan has been utilized, the applicant will be responsible for the remaining balance.

Applicant MUST be listed as owner in public records or provide documentation at time of application that they are authorized to enter into loan agreements. Business MUST be attempting to provide services or do work in the Corporate City Limits of Mobile, AL. Applicant MUST Provide Estimated Insurance Total and/or City of Mobile Business License Fee from City Revenue Department (Copy of insurance estimate from third party).

Requirements for Loan Forgiveness

  • Awardees must attend a minimum of 20 hours of business development courses approved by the City of Mobile Office of Supplier Diversity (OSD) within 12-month period. The City’s OSD will offer courses along with City of Mobile Community Partners.

  • Show proof that the business has been actively bidding and/or successfully obtaining projects/jobs.

How to Apply for the Micro-Loan Program

To apply for the Micro-Loan Program applicant must be registered as Section 3 Individual and Business, fill out the program application, and provide required business documentation outlined below.

Application Checklist

  • Register and qualify as a Section 3 Individual and business on the City of Mobile Workwith.Cityofmobile.org website.

  • Provide past 2 years federal income tax returns.

  • Be registered with the Alabama Secretary of State Office.

  • Provide proof of business bank account.

  • Provide proof that the company is registered with E-verify.

  • Provide Proof that the company’s business has been affected by the Covid-19 pandemic. (Financial Records for 2019 & 2020)

Please Note: The City of Mobile makes no assurance that assistance will be provided to any given business regardless of eligibility. Factors such as available funding and number of applicants will determine selection.

Applicant acknowledges that further documentation may be required per HUD guidelines for underwriting and eligibility purposes and that not providing this documentation could affect any potential eligibility.

Ready to apply?

Click here to download the application.

Send your completed application with supporting documents to officeofsupplierdiversity@cityofmobile.org

Or mail the application and supporting documents to:

City of Mobile
Office of Supplier Diversity

205 Government Street
Mobile, Alabama 36601