City of Americus Promotes Revolving Loan Fund Program to Boost Local Economic Development
Americus, GA March 12, 2024 – The City of Americus is excited to share information about the Revolving Loan Fund (RLF) Program, a vital initiative aimed at fostering economic growth across the city. Funded by the Georgia Department of Community Affairs (DCA), this program is not limited to downtown businesses but is available to small businesses citywide.
The primary objective of the city’s RLF is to expand economic opportunities for individuals with low- and moderate- income within Americus. The program will provide flexible and expedient funding at the local level, with a strong emphasis on public-private partnerships.
Key features of the City of Americus Revolving Loan Fund Program:
- Broad Eligibility: The RLF is open to small businesses throughout the City of Americus, providing a valuable resource for those seeking to expand, start, or enhance their operations.
- National Objectives: To be considered for RLF funds, potential projects must align with one of two national objectives: benefiting low- and moderate-income persons, or preventing and eliminating slum and blight.
- Public-Private Partnerships: The program seeks to create partnerships with local commercial banks and other private sector lenders and investors. This collaboration aims to leverage public resources with private investment to maximize impact.
- Gap Financing for Small Businesses: The RLF is designed to provide “gap” financing to small service, commercial, and industrial businesses in Americus. This assistance is contingent upon firm commitments of financial participation from other sources, ensuring a collaborative and sustainable approach.
- Job Creation and Retention: Financial assistance provided through the RLF must result in the creation or retention of permanent jobs. At least 51percent of these jobs must benefit low- and moderate-income individuals, contributing to the overall economic well-being of the community.
“The City of Americus is committed to supporting the growth and prosperity of our local businesses,” said Diadra Powell, City Manager. “The Revolving Loan Fund Program reflects our dedication to fostering economic development, creating jobs, and enhancing the quality of life for all residents.”
Businesses interested in applying for the RLF funds can find more information and application details here.
For media inquiries or additional information, please contact:
Qaijuan Willis, Main Street Director
(229) 924-4411 Ext. 247
About the City of Americus:
The City of Americus is committed to creating an innovative, clean, and safe community that provides effective government, jobs, and growth. As the county seat of Georgia’s Sumter County, Americus is a vibrant and diverse community known for its rich history, strong sense of community, and commitment to economic growth. Americus boasts a population that reflects a blend of cultural backgrounds and a welcoming atmosphere. For more information, visit their website at www.americusga.gov.
