Compilation of Rules and Regulations of the State of Georgia
Department 413 - GRANTS OF THE ONEGEORGIA AUTHORITY
Chapter 413-5
Subject 413-5-1 - STRATEGIC INDUSTRIES LOAN FUND
Rule 413-5-1-.05 - Fund Availability
Current through Rules and Regulations filed through September 23, 2024
(1) Funds appropriated or otherwise made available to the Authority will be made available to eligible applicants for projects when a strategic industry cannot locate or expand without special financial assistance because the private or venture markets do not offer sufficient financing to meet the company's needs.
(2) Loans are not limited in amount. A recommended loan amount should be included in a letter of support from a state agency or organization whose statutory powers and duties include community and economic development or the enhancement of Georgia's strategic industry sectors. (See section 413-5-1-.08(4) below.) Final approval of loan amounts is at the discretion of the Authority. Loan amounts generally should not exceed 20% of the asset needs of the company's Georgia location.
(3) The criteria in this rule (413-5-1)are designed to assist the Authority in making its decision and only constitute minimum standards. Additional factors may be considered depending on the nature of particular projects and their relative merit compared to competing proposals and depending on the availability of funding at the time of application.
(4) The Authority will establish and announce funding availability. Applications will be accepted throughout the fiscal year and will be reviewed based upon the criteria provided in Rule 413-5-1-.09.
(5) Eligible applicants must apply for assistance under this program in a format and manner described by the OneGeorgia Authority. Application manuals and guidelines may be obtained from the Authority and are on this website:
The OneGeorgia Authority
Strategic Industries Loan Fund
1200-B Hillcrest Parkway
Dublin, Georgia 31021
(478) 274-7734
(6) The application guide provided will include information outlining program requirements, forms, mailing addresses and other necessary information.
O.C.G.A. Sec. 50-34-1et seq.
