AMEA Capital Fund
Alabama Municipal Electric Authority (AMEA) has started a loan program to
assist its member communities in the development or improvement of sites and
facilities for use by new industries and existing industries that benefit AMEA's
members, aggregate load factor, and improvement of the efficiency and use of
bulk electric power.
ADVANTAGES
 | Loans can be made to public and nonprofit organizations through an AMEA
member. |
| Low Interest rate. |
USE OF FUNDS
| Assistance in upgrading or renovation of existing facility for new or
existing expansion. |
| Assistance in construction costs of a shell building. |
| Design and/or construction of extensions of utilities to industrial sites
and/or parks. |
| Infrastructure development and costs. |
| Project assistance associated with property owned, leased or optioned by a
governmental or non-profit entity. |
| Consideration will be given to reimbursement for completed projects.
|
SOURCE OF FUNDS
AMEA, limited to $200,000 and/or 75% of project cost.
INTEREST RATE & TERMS
| Zero percent per annum. |
| Five years maturity term in five annual payments. |
APPLICATION REQUIREMENTS
| Have on file community's current promotional information. |
| Data profiles for buildings of 20,000 square feet or more. |
| Detailed summary of project, proposed budget, proposed uses of project
funds, impact to community, evidence that all necessary funds are available to
accomplish project, and proposed time frames for project implementation. |
|
