Financial Incentives

OED offers a number of state and federal economic development financing programs including the following. For more information contact Irenio Johnson, Jr., at (205) 714-8668.

  • Birmingham Business Development Loan Program is designed to assist Birmingham based businesses with an alternative option for small business financing. This loan initiative was developed to create financial opportunities for developers and entrepreneurs thus encouraging increased economic development projects in the City of Birmingham. Under this program applicants may apply for loans at a minimum amount of $100,000 or up to a maximum amount of $1,000,000 for a maximum term not to exceed 24 months.
  • EDA Revolving Loan Fund Program provides direct loans for the purchase of land, buildings, machinery, equipment and new expansion. Limited to businesses located within the City of Birmingham.
  • Industrial Revenue Bond Financing is a special method of financing in which a municipal entity, such as the Birmingham Industrial Development Board, issues bonds to finance the acquisition of real property, construction or renovation of facilities, or the purchase of equipment and machinery for eligible businesses. IDB bonds may be taxable or tax‑exempt under certain circumstances.