Areas Served: Baldwin, Bibb, Crawford, Houston, Jones, Monroe, Peach, Pulaski, Putnam, Twiggs, and Wilkinson counties, Georgia
In 1992 the Economic Development Administration assisted the Middle Georgia Regional Commission in developing the EDA Revolving Loan Fund (EDA RLF).
This Fund lends money to Georgia businesses in the following counties: Baldwin, Bibb, Crawford, Houston, Jones, Monroe, Peach, Pulaski, Putnam, Twiggs, and Wilkinson.
The EDA RLF is designed to help businesses in obtaining financing for primarily hard assets (land, building, and equipment with a useful life of ten years or more).
Under certain circumstances, the RLF will finance working capital provided there is sufficient collateral to secure the loan.
The program participates with private sector lenders to fund projects.
The typical funding scenario is the private sector lender lends the applicant up to 57 percent of the eligible project coSt. The applicant contributes at least 10 percent of the project cost with the RLF lending the remaining 33 percent.
The interest rate and term of the loan is determined by the Loan Review Committee and depends on the project and the assets being financed.
Contact Information
Middle Georgia Regional Commission
Address: 175 Emery Hwy, Suite C
City: Macon
State: Georgia
Website:
https://www.middlegeorgiarc.org/
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