Atlanta City Council authorizes small and micro business loan program

The Atlanta City Council has authorized an intergovernmental agreement with Invest Atlanta, the city’s development agency, to create a loan program for small and micro-businesses.

The agreement, which the council approved Monday, is for three years and will be funded with $500,000.

The ordinance that authorized the agreement says that small and micro businesses are the primary source of U.S. job growth, but often face financial challenges like access to capital.