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ATLANTA MICRO FUNDThe Atlanta Micro Fund, Incorporated (AMF) was established in 1999 as subsidiary of AHAND to provide funding and business management assistance to micro businesses located in metropolitan Atlanta. The organization operates a micro loan, Individual Development Account (IDA), and business management assistance program. Mission Statement AMF's mission is to increase small business opportunities, by providing capital, business management assistance, and referrals to existing and startup business typically excluded from mainstream sources of financing. AMF gives priority to those business owned by low-income individuals in AHAND communities, which have been traditionally underserved.
Loan Program The loan program provides loans up to $10,000 for entrepreneurs starting or expanding businesses. The loan funds can be used for working capital, equipment, inventory, supplies, and raw materials. The loan terms range from 1 month to 36 months and will depend on the revenue and expense cycle of the business.
Individual Development Account Program (IDA) The IDA Program provides funding and financial literacy courses to individuals that want to start, enhance or expand a business. Participants in this program can save up to $1,200 and have up to 2 years to reach their savings goal. For every $1 saved, individuals are matched $3. Participants also get the opportunity to take six financial literacy workshops focusing primarily on personal credit and budgeting. The IDA funds must be used to purchase inventory, raw materials, business training, or equipment.
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