Main Street Marion receives USDA grant, launches small business loan fund

Main Street Marion announced the launch of the Main Street Marion Small Business Loan Fund to support small businesses located in downtown Marion.

The “Main Street Marion Small Business Loan Fund” is available to qualified small business owners and entrepreneurs in Marion, Alabama immediately.  To fund this program, Main Street Marion was awarded a $150,000 grant from USDA. 

The Board of Main Street Marion partnered with Opportunity Alabama (OPAL) and Marion Community Bank in the design of the Revolving Loan Fund. OPAL also assisted in developing and submitting the grant application to USDA.

“Taking on the task of applying for government funding through the USDA was a great learning experience for the Main Street Marion Board of Directors,” said Susan Passmore, Executive Director of Main Street Marion. “Working closely with representatives from Opportunity Alabama and Marion Community Bank was critical to this process, and we forged a bond and significant partnership for the future.” 

Chris Frye, Community Development Director at OPAL, describes these outcomes as an example of how regional partnerships can help communities achieve local goals. “Main Street Marion came to OPAL with several ideas for how to enhance and re-energize their historic district, and we saw a critical need for local small business owners to have more pathways to access capital. We are thrilled with the success Main Street Marion has had in securing this source of funding to achieve one of their top priorities, which is support for small businesses.” 

Several small business owners in Marion supported the grant application with through letters of support. Main Street Marion also developed a relationship with representatives from the USDA offices in Montgomery and Camden. The visibility and positive feedback Main Street have received from the application and grant award will assist Main Street’s efforts to continue to help revitalize our city going forward.

Main Street Marion is dedicated to the revitalization of our downtown square and business corridor. Bringing vitally needed low interest funding to our qualified small business owners and entrepreneurs is a significant benefit to our community.  Any business owner or entrepreneur in Marion interested in applying for a low interest loan with Main Street Marion please come by the Marion Art Center and complete an application or call Donald Bennett at 734-250-4119.