Green Business Loan Fund
What is the purpose of the “Green Business” Revolving Loan Fund?
The purpose of the Athens-Clarke County “Green Business” Revolving Loan Fund is to assist new and existing businesses in becoming more energy efficient or in implementing eco-friendly
products or services into their business.
What can the loan be used for?
Finance long-term fixed assets (ex: machinery, equipment)
Rehabilitation of real estate and associated improvements
Leasehold improvements
Working capital (not to exceed $5,000)
What are some examples of eligible loan uses?
Purchase and installation of a solar hot water heater
Purchase and installation of new energy efficient windows and doors
Equipment and working capital for organic farming
These are only a few examples of eligible uses!!
What can the loan not be used for?
Inventory
Refinancing existing debt
How much money can I borrow?
Loans range from $1,000 to $50,000 depending upon the borrower’s or business’s needs.
Working capital loans cannot exceed $5,000
What is the interest rate and loan term?
Non-working capital loans -
Prime or below prime interest rate
Loan terms average from 3-5 years
Working capital loans -
Prime + 2%
Loan term is for one business cycle (1 year)
Both the interest rate and the loan term are determined by the loan fund administrators and/or loan review committee depending on the total amount of funding requested.
Do I need a business plan and collateral for this loan?
Start-up businesses are required to have a completed business plan with financial
projections.
Each loan should be secured by collateral adequate to safeguard the fund’s investment.
Where can I get more information?
The “Green Business” Revolving Loan Fund is administered by the Athens-Clarke County
Department of Human and Economic Development. To speak with our representative, call (706) 613-3155.
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