Georgia
	Text Version of Site

                Community Facilities
            Loan and Grant Programs


Description: 

Funding is provided for the financing of essential community facilities such as health care clinics, police and fire stations, schools, and child care centers. Guaranteed loans, direct loans, and grants are available.  To see a more complete list of eligible loan purposes, please click here.

Loan Purposes:

Funds can be used for construction, land acquisition, legal fees, engineering fees, capitalized interest, equipment, etc.

Who is Eligible:

Public bodies and nonprofit corporations. Applicants must be unable to obtain the financing from other funding sources and/or their own resources at rates and terms they can afford.

Loan/Grant Amount:

Funding may be obtained for 100 percent of eligible project costs, subject to adequate security, ability to repay, applicant's authority to borrow, and availability of funds. Grant assistance may be available for up to 75 percent of project costs not to exceed $50,000 or 50 percent of the State's annual allocations, whichever is greater.

Loan Terms:

Up to 40 years based upon an applicant's authority and life expectancy of the security.

The interest rates (effective April 1 - June 30) are:

Market - 4.625%
Intermediate - 4.50%
Poverty - 4.5%

These rates are subject to change on a quarterly basis.

Other Criteria:

Grant recipients must be located in a rural community having a population of 20,000 or less and serve primarily rural area with populations of 20,000 or less, and serve areas where the median household income of the population served by the proposed facility is below the higher of the poverty line ($22,050) or 80% ($35,327) of the State non-metropolitan median household income.

Funding Update:

FY '09 funding allocations are currently available. 

Funding for FY '09 is:

CF Direct - $10,205,000
CF Guaranteed - $5,137,100
CF Grant - $638,580
EII Grant - $297,440
CF (ARRA) Direct - $23,864,000
CF (ARRA) Grant - $1,327,000

Accomplishments :

2008 Accomplishments

Direct/Guaranteed Loans and Grants - $12,260,823

29 loans and 25 grants 

Where Do You Apply:

Program information and Application Forms can be obtained from any Area Office within the state. 

Last Updated : May 05, 2009