Number of Loans: 194
Number of Cities: 63
Total GCF Lending: $38,637,703
Total Project Costs: $225,298,560
Number of New Businesses: 36

New/Retained Downtown Jobs: 2,556
Downtown Housing Units: 366
New Hotel Units: 229
Redeveloped Square Footage: 1.724 million sf
New Construction Square Footage: 229,000 sf

Revolving Loan Fund for Downtowns

For more than 20 years, the Georgia Cities Foundation’s Revolving Loan Fund has provided low-interest financing to support historic rehabilitation, new construction, and green space projects in downtowns across Georgia. By partnering with Downtown Development Authorities (DDAs) and cities, the program helps advance local revitalization goals through public-private collaboration.

Loan Terms & Qualifications

• Financing up to 40% of project costs, with a maximum loan of $250,000
• Below-market interest rate, 10-year term, 15-year amortization
• Eligible uses: acquisition, rehabilitation, new construction, or green space
• Requires local support (DDA/City), matching funds, and Qualified Local Government (QLG) status
• Structured with a senior lender in first lien position (typically a bank); 50% bank – 40% GCF – 10% owner equity

State Small Business Credit Initiative (SSBCI) Loan Fund

As a Community Development Financial Institution (CDFI), the Georgia Cities Foundation partners with the Georgia Department of Community Affairs to deliver flexible, mission-driven financing through the State Small Business Credit Initiative (SSBCI). This federal program provides gap financing to help small businesses in Georgia access the capital they need to grow and succeed.

Loan Terms & Qualifications

• Financing up to $1.25 million per project or phase
• Fixed interest rate of 3.5%
• 10-year term with up to 20-year amortization
• Eligible uses: acquisition, renovations, new construction, build-out, furniture/fixtures/equipment (FF&E), and inventory (no working capital or goodwill)
• At least 51% of the property must be owner-occupied (60% if new construction); remaining space may only be leased to commercial tenants (no residential)
• Subordinate to senior lender (typically a bank in first lien position); 50% bank – 40% GCF – 10% owner equity