Micro-Enterprise Loan Program (City of Mobile, AL)

Micro-Enterprise Loan Program (City of Mobile, AL) is sponsored by City of Mobile, AL. This program provides micro-loans to small businesses attempting to provide services or do work within the corporate city limits of Mobile, AL. Applicants must meet HUD income guidelines and be registered as a Section 3 Individual and Business.

City Opens Applications For $50 Million Economic Development Loan Fund : City of Mobile, Alabama City Opens Applications for $50 Million Economic Development Loan Fund Posted in: Neighborhood Development Press Release Mayor Mobile, Ala. — The City of Mobile is now accepting applications for a new $50 million loan program designed to support growth, create jobs, and encourage long-term economic development across the city.

The Senator Richard Shelby Downtown Economic Development Revolving Loan Fund was created using federal funding approved by Congress in 2023 and will be administered by the City of Mobile in coordination with the U.S. Department of Housing and Urban Development. “This is an incredible tool that will support the investments helping to shape the future of Mobile,” said Mayor Spiro Cheriogotis.

“It allows us to support projects that strengthen our economy today while also creating a sustainable source of funding to support future investments. We’re extremely grateful to Senator Richard Shelby for making this opportunity possible for our city, and we look forward working with Senator Katie Britt and her staff to make sure these investments are put to the best use.

” This new program will offer low-interest loans to support projects that contribute to local economic development. Unlike traditional grants, the money will be repaid over time and then reused to fund additional projects, allowing the program to support multiple rounds of investment.

While many projects that qualify for the program are expected to fall within or near downtown Mobile, there is no requirement that projects be located within the central business district . Eligibility will be based on federal guidelines, and projects will be evaluated based on their long-term economic impact. Loan terms will vary depending on the project, with a minimum loan amount of $1 million.

Interest rates will be set below market rates, and repayment terms will be structured based on project needs and federal guidelines.

Based on the enabling legislation, projects may be considered in areas such as: Hotel development or renovations Parking improvements and new facilities Higher education and workforce-related projects Commercial and mixed-use development, including redevelopment All projects must meet federal requirements and receive HUD approval.

With the exception of higher education support projects, the city will begin its initial review of applications on March 2, 2026. Applications for higher education projects will be reviewed on a rolling basis as they are received. Applications will undergo an initial review by the City of Mobile’s Neighborhood Development Department to confirm eligibility and compliance.

Final recommendations will be evaluated by a review committee of city staff and appointments from Mayor Cheriogotis and the Mobile City Council. Applications and additional information about the program are available at: cityofmobile. gov/departments/neighborhood-development/neighborhood-development-for-developers .

For questions, call (251) 208-6294 or email courtney. phelion@cityofmobile. gov .

NOTICE OF FINDING OF NO SIGNIFICANT IMPACT AND NOTICE OF INTENT TO REQUEST RELEASE OF FUNDS - Alabama Department of Economic and Community Affairs (ADECA) Public Hearing for Infirmary Health System - TEFRA Notice City celebrates major bridge project milestone Transformative St. Louis Street project reaches midway point Celebrate National Parks and Recreation Month with MPRD Submit your concerns or questions to City Hall.

2026 Business Licenses are due January 1, 2026 and delinquent after January 31, 2026. 15% penalty will be assessed beginning February 1st through February 28th. 30% penalty will be assessed beginning March 1st.

Applicable interest will be assessed beginning February. For additional information contact the City of Mobile, Revenue Department at (251) 208-7462.