Economic Development Administration Revolving Loan Fund

The Middle Georgia Regional Development Center is a planning and economic development agency serving eleven middle Georgia counties. In 1992 with the assistance of the U.S. Economic Development Administration, the Middle Georgia RDC developed the EDA Revolving Loan Fund (RLF). This Fund lends money to businesses in the following counties: Baldwin, Bibb, Crawford, Houston, Jones, Monroe, Peach, Pulaski, Putnam, Twiggs and Wilkinson.

The 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% of the eligible project cost. The applicant contributes at least 10% of the project cost with the RLF lending the remaining 33%. 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.

Business Eligibility »
Ineligible Businesses »
Eligible Project Costs »
Ineligible Project Costs »
Loan Amounts »
Terms of Loans »
Interest Rates »
Example of Loan Structure »
Collateral Required »
Required Information »