Each day entrepreneurs are faced with the challenges of locating and acquiring financial resources. Once up and going, often times small businesses and start-ups need additional help managing and expanding their businesses. If you are just starting or already in business, there are a number of resources in Georgia that will help you turn your entrepreneurial dream into a thriving business. The City of East Point recognizes special service administrations that promote and facilitate small and existing businesses.
ECONOMIC DEVELOPMENT CORPORATION OF FULTON COUNTY (EDCFC)
The Fulton County Certified Development Corporation (which was established at the Special Meeting of the Board of Commissioners on April 20, 1983) and the Greater Atlanta Small Business Project (GRASP) merged to create the Development Corporation of Fulton County in 1988. Shortly after this time, the name was changed to the Economic Development Corporation of Fulton County (EDCFC) for purposes of certification. The purpose of the EDCFC is to make 504 asset-based loans to companies in Fulton County. The members include representatives from government, private-sector lending institutions, community organizations, and business organizations.
DEVELOPMENT AUTHORITY OF FULTON COUNTY (DAFC)
The Development Authority of Fulton County is among the preeminent development authorities in the southeastern United States. It has issued more than $16 billion in bonds and helped well over 300 businesses and institutions build, renovate, expand or relocate in Fulton County, Georgia. Created in 1973 by Georgia law and a resolution of the Fulton County Board of Commissioners as a special unit of the county government, the Authority provides wide-ranging economic development services on behalf of Fulton County. The Authority also facilitates community based economic development initiatives. Seeking to stimulate diverse, high-quality economic development, the Authority provides taxable and tax-exempt bond financing pursuant to Georgia Development Authorities law and a policy for development Incentives created by the Fulton County Board of Commissioners. The Authority serves clients of all sizes, from small, entrepreneurial enterprises to major corporations and iconic institutions such as UPS, Newell Rubbermaid, Invesco, Morehouse College, Hewlett Packard, Cox Enterprises, Turner Broadcasting, and Georgia Tech. Funded projects have endowed everything from education, health care and transportation to arts and culture.
The Authority's jurisdiction encompasses all of unincorporated Fulton County and its municipalities, including the city of Atlanta. The Authority works closely with other state and local development organizations as well as with area chambers of commerce. The Authority is a charter member of the Joint Development Authority of Metropolitan Atlanta.
141 Pryor Street, S.W., Suite 1031
Atlanta, GA 30303
ACCION USA makes loans to small business owners in the Atlanta area who don't have access to traditional bank credit. ACCION USA lends to many kinds of businesses such as street vendors, beauty salon owners, restaurant owners, contractors, home-based daycare providers, and many others. You may be eligible for loans between $2,500 and $25,000.
For more information: www.accionusa.org or call 404-521-0594
GRASP Enterprises/SBA Microloan Program
GRASP Enterprises is a private, non-profit small business development agency that assists small business owners and aspiring entrepreneurs with developing, growing and expanding their business ventures. GRASP provides micro-loans, pre-loan assistance and loan packaging to creditworthy entrepreneurs especially women, minorities, and disadvantaged citizens. The authorized range for these SBA microloans is $500 to $25,000. The average loan size is $7,000.
For more information: www.graspnet.org or call 404-965-3930
Business incubation is the process of business development. Incubators help to nurture young businesses from the start up stage when they are most vulnerable. An incubator program’s main goal is to produce financially viable and freestanding businesses. Below is a listing of some of the business incubators of Atlanta:
Atlanta Technology Development Center (ATDC)
430 Tenth Street, NW, Suite N-116
Atlanta, Georgia 30318
Intelligent Systems Incubator
4355 Shackleford Road
Norcross, Georgia 30093
Business guidance and support is crucial to increasing a business long-term success. Resource centers help to assist business owners in achieving their mission in establishing a successful business and is a comprehensive source of information and tools.
Georgia Tech Electronic Commerce Resource Center (ECRC)
The Georgia Tech ECRC provides a variety of services. They train businesses and governmental agencies in Electronic Commerce technology and provide assistance in implementing Electronic Commerce practices. For more information: www.ecrc.gatech.edu or 800-894-0585
SMALL BUSINESS ADMINISTRATION (SBA)
For over 53 years, the Small Business Administration (SBA) has been a key resource for start-ups and existing businesses. The SBA is there to assist you if you are looking to start or expand an existing business, looking for financing, business counseling, federal procurement opportunities, or need help in attaining certifications necessary to compete in today's market. Through their resource partners such as SCORE (Service Corps of Retired Executives), Small Business Development Centers, WBC (Women Business Centers) and U.S. Export Assistance Center, the SBA can help a business develop a viable business plan, obtain financing, and develop a marketing strategy. The SBA even has programs for helping special audiences, such as women and veterans become small business owners. For more information: www.sba.gov/ga or 404-331-0100
Other helpful and related websites under SBA:
Women's Economic Development Agency (WEDA) - Women's Business Center
678-904-2201 ext. 6
Georgia Tech Procurement Assistance Center (GTPAC)
"MY BIZ" for Women
State Purchasing Office
Georgia Department of Labor
Export Trade Financing - Export Working Capital Program
U.S. Export Assistance Center
ATLANTA DEVELOPMENT AUTHORITY (ADA)
Comprised of the Urban Residential Finance Authority, Downtown Development Authority and the Atlanta Economic Renaissance Corporation, the Atlanta Development Authority (ADA) is the official economic development agency for the City of Atlanta. The ADA focuses on residential, business and investment growth in the city. ADA’s core competency is real estate finance.
For more information: http://www.atlantada.com or 404-880-4100
Other helpful and related websites under ADA:
Center for Black Woman’s Wellness, Inc.
Latin American Association
Georgia Micro Enterprise Network (GMEN)
Minority/Female Business Enterprise (M/FBE)
Atlanta Business League
Minority Business Development Agency
N.W. Washington, DC 20230
National Women Business Council
Georgia Department of Economic Resource Center & International Trade www.georgia.org
The University of Georgia - Business Outreach Services www.sbdc.uga.edu
Georgia Tech - Economic Development Institute www.edi.gatech.edu
Atlanta Technical College - Economic Development www.atlantatech.org