Grants and Other Finance Options

If your company is looking for support for infrastructure development, workforce training or financing, please let us help you explore these state, federal, and private financing sources. Our office is qualified and experienced to assist you in accessing state, federal and other funding sources to support new and expanding business opportunities. The links below will provide more information and will open in a new window.

The following is a partial listing of financing and funding resources that we have used successfully to support new and expanding business location and expansion:

Appalachian Regional Commission logo

Appalachian Regional Commission Revolving Loan Fund - Private business loans up to $200,000
Private, for-profit businesses that create or retain at least one job per $20,000 of RLF loan funds received may qualify for financing. Funds may be utilized for working capital, new construction, rehabilitation, building and land acquisition, equipment purchase and installation as well as façade improvements. Business owners must arrange financing for at least 50% of the cost of their proposed project.

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Community Development Block Grant Logo

Community Development Block Grant - Up to $500,000 in grant funds at 2% interest
The Georgia DCA Redevelopment Fund finances local public/private partnerships to leverage investments in downtown and industrial redevelopment projects. Provided necessary job creation and private investment goals are met, the local government can apply for a $500,000 grant, which in turn may be loaned to a private company at 2 percent interest for fixed asset acquisition and/or rehabilitation. Many smaller scale projects (in downtown areas, blighted industrial areas, etc.) are competitive for Redevelopment Fund financing.

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CDBG Employment Incentive Program (EIP)- Up to $500,000 financing with 50 low to moderate income jobs
EIP financing of up to $500,000 may be available for projects creating opportunities for low and moderate income persons to advance themselves by obtaining employment, greater job security, better working conditions, job training, enhancement of workplace skills and advancement opportunities. These funds would be available through the City and eligible for loan to a private entity at 2 percent interest for fixed asset financing. In addition to meeting low and moderate income job creation requirements, the company must provide a minimum private investment of $500,000 and create at least 50 jobs.

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OneGeorgia Authority Equity Grant

OneGeorgia Authority Equity Grant - Up to $500,000 grant and/or loan financing
Up to $500,000 One Georgia Authority Equity grant and/or loan financing may be available for certain projects provided a tri-county benefit (Stephens, Hart, and Franklin) is demonstrated. Up to $300,000 may be available for a bi-county benefit and up to $200,000 may be available for a single county benefit. Eligible uses of funds provided under the Equity Fund include, but are not limited to, the provision of public infrastructure, services, facilities and improvements, technology infrastructure, the acquisition, clearance and disposition of real property, site preparation, site improvements, real property rehabilitation, and the provision of planning services and technical assistance.

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USDA Rural Development

B&I Guaranteed Loan Program - Up to $10 million loan by USDA Rural Development
B&I (Business & Industry) loans are available in rural areas of less than 50,000 population (Stephens County qualifies). Loan purposes include:

  • Business and industrial acquisitions when the loan will keep the business from closing, prevent the loss of employment opportunities, or provide expanded job opportunities.
  • Business conversion, enlargement, repair, modernization, or development.
  • Purchase and development of land, easements, rights-of-way, buildings, or facilities.
  • Purchase of equipment, leasehold improvements, machinery, supplies, or inventory.

The maximum percentage of guarantee is 80% for loans of $5 million or less and 70% for loans between $5 and $10 million. The total amount of Agency loans to one borrower must not exceed $10 million.

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About

The SCDA is responsible for the recruitment of new businesses including industrial, manufacturing, distribution, corporate and regional headquarters and customer service centers. It also provides support and assistance with all other types of economic development projects.

The SCDA also works with existing businesses and industries to ensure their continued success. While recruitment of new industry is a significant function, aiding in existing industry expansion and retention is just as significant. About 80 percent of all new jobs in Georgia come as a result of existing industry expansion.

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Testimonials
A couple of years ago, the Stephens County Development Authority informed us that we were located in an Opportunity Zone which qualified us for tax credits that were applied to our GA payroll taxes for adding new employees. We were able to realize these savings. We are thankful to our local development authority for making sure that we were taking advantage of all the tax credits available to us. -
From the beginning of our interest in moving to Toccoa-Stephens County, the Stephens County Development Authority made regular trips to our office to make sure we are adjusting to our new home and acclimated to the community resources in Stephens County. They provided a wealth of information on Georgia Business Incentives and tax incentives specific to Stephens County. They introduced us to many connections in Stephens County. We now are well connected with the Department of Labor and attend their monthly meeting and after SCDA's help with some paperwork we have taken advantage of GDOL's Incumbent Worker Program. The Development Authority also shared their long list of local vendors with us and we were able to find our utilities provider, an insurance agent, a computer technician and research local CPAs. Basically, the SCDA is our go to. If we can't figure it out or just need some guidance on an issue we don't hesitate to pick up the phone and call. We definitely appreciate the Stephens County Development Authority's efforts to make Toccoa a great place to do business. They truly make us feel welcome and appreciated in Stephens County! -
Contacts
Phone:
706-886-4242
Address:
31 W. Doyle Street, Toccoa GA 30577
Hours:
Mon-Fri 8:00 am to 5:00 pm
E-mail:
tim@scda.biz
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