Loan Programs | Georgia Cities Foundation

Georgia Cities Foundation Loan Impact to Date:

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

The Georgia Cities Foundation is a certified Community Development Financial Institution (CDFI) dedicated to delivering flexible financial solutions that help make transformative downtown and community projects possible. Through a strong partnership with the Georgia Department of Community Affairs (DCA) and other strategic partners, GCF has assisted hundreds of projects across Georgia in coming to fruition—supporting revitalization, economic development, housing, and placemaking initiatives that strengthen communities statewide.

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

All loan programs require a $250 application fee and 1% origination fee, if approved. Other fees may apply depending on project.