Rural Development Revolving Loan Fund

In 1982, the Middle Georgia Regional Development Center created the Georgia Small Business Lender, Inc. (GSBL) to promote economic growth in the region. The GSBL is a private nonprofit corporation. The corporation is a Certified Development Company (CDC) of the U.S. Small Business Administration.

In 1992 with the assistance of the U.S. Department of Agriculture’s Rural Development agency, the Rural Development Revolving Loan Fund (RLF) was established. This Fund lends money to businesses in rural areas of the GSBL service area. Businesses in the following counties and areas are eligible for assistance: Baldwin, Crawford, Jones, Monroe, Peach, Pulaski, Twiggs, and the areas of Bibb and Houston outside the city limits of Macon and Warner Robins.

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 50% of the eligible project cost. The applicant contributes at least 10% of the project cost with the RLF lending the remaining 40%. 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 »
Loan Amounts »
Terms of Loans »
Interest Rates »
Example of Loan Structure »
Collateral Required »