Areas Served: City of Conyers
The City of Conyers, Georgia offers the Georgia Cities Revolving Loan Fund to provide financing for businesses.
Applications for the Revolving Loan Fund program may be submitted at any time.
GMA and the Foundation staff will review applications to determine if the project fits the overall objectives of the Foundation and is likely to have a positive economic impact on the community.
Applications are evaluated based on leadership, accountability, long-term sustainability, and potential for private investment.
Projects should encourage spin-off development, add jobs, promote downtown housing, or add to the cultural enrichment of the community.
Each application must also undergo credit underwriting.
The Foundation presently provides loans up to $250,000. The interest rate is below market rate, and the repayment period is normally 10 years, not to exceed 15 years.
Financing Structure GCF recommends a 50-40-10 financing structure for projects, with 50% of the project cost being financed through conventional lenders, 40% being financed through low interest loan programs (GCF and/or DD RLF), and 10% being the developer’s equity participation.
Contact InformationCity of Conyers, Georgia
Address: 1186 Scott Street
City: Conyers
State: Georgia
Website:
http://visit.conyersga.com/MainStreet/EconomicDevelopmentIncentives/GeorgiaCitiesFoundationRevolvingLoanFund/tabid/595/Default.aspx
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